Proposed Investment In Digital Nasional Berhad ("Proposed Investment")

Back Jun 28, 2024


Type Announcement
Subject OTHERS
Description Maxis Berhad ("Maxis") : Proposed Investment in Digital Nasional Berhad ("Proposed Investment")
We refer to the announcements dated 1 December 2023 and 20 June 2024 in relation to the Proposed Investment. Unless otherwise defined, the definitions as set out in the announcements shall apply herein.

Maxis wishes to announce that the SSA had been completed today (“Completion Date”). Pursuant to the completion, on even date, Maxis Broadband entered into a Shareholders Agreement with DNB, MoF Inc., YTL Power International Berhad, Infranation Sdn Bhd, and U Mobile Sdn Bhd (collectively referred to as the “Investor Shareholders”) (“Shareholders Agreement”).

The AA Prepayment is now regarded and treated as a Shareholder Advance to DNB, which carries the same rights accorded to an ordinary shareholder in DNB, i.e. each Ringgit of Shareholder Advance is entitled to one vote.

The Shareholders Agreement sets out the terms for the transition to a dual 5G network model, including a put and call option for MoF Inc. to sell its ordinary shares and transfer its shareholder advance in DNB. Under the Shareholders Agreement, an equity restructuring exercise shall take place after the MoF Inc. put and call option. At that stage, Investor Shareholders will split into one group consisting of shareholders that remain in DNB, and another group that will sell its equity in DNB to the shareholders who remain in DNB. The latter group of shareholders may proceed to form an entity to provide the second 5G network or choose not to participate in the equity holding of the second 5G network provider.

The Proposed Investment is not expected to have any material effect to the earnings per share, net assets per share and gearing of Maxis Group for the financial year ending 31 December 2024.

Any further material development on the matter will be updated accordingly.

This announcement is dated 28 June 2024.


Announcement Info

Stock Name MAXIS
Date Announced 28 Jun 2024
Category General Announcement for PLC
Reference Number GA1-28062024-00034