Kuala Lumpur, 3 June 2016
- Sime Darby Berhad is disposing a 10 per cent stake in Eastern & Oriental Berhad (E&O) for approximately RM342 million as part of its asset monetisation plan.

The company is selling 125.978 million shares and all of its convertible warrants to Paramount Spring Sdn Bhd, a company owned by Dato' Seri Terry Tham Ka Hon, for RM2.60 per share and 30 sen per warrant.

'The share sale forms part of our rationalisation of property investments taking into account opportunities for future growth in areas of strategic significance. The transaction reflects Dato' Seri Terry Tham's commitment to the long term future and success of E&O,' said Tan Sri Dato' Seri Mohd Bakke Salleh, President and Group Chief Executive of Sime Darby.

Following the sale, Sime Darby remains a shareholder of E&O with a stake of 12.2 per cent and it will continue to have board representation in the property developer. Proceeds from the sale will be used for working capital.

Sime Darby Berhad published this content on 03 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 June 2016 12:21:04 UTC.

Original documenthttp://www.simedarby.com/media/press-release/sime-darby-disposes-10-per-cent-stake-in-e-o

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