Submitting Merchant Bank
:
TA SECURITIES HOLDINGS BERHAD
Company Name
:
JAKS RESOURCES BERHAD
Stock Name
:
JAKS  
Date Announced
:
26/08/2013


Type
:
Announcement
Subject
:
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS

Description
:
JAKS RESOURCES BERHAD ("JRB" OR THE "COMPANY")

ACQUISITION BY HARBOUR TOWN SDN BHD ("HARBOUR TOWN"), A WHOLLY-OWNED SUBSIDIARY OF JRB, OF 51% EQUITY INTEREST IN MNH GLOBAL ASSETS MANAGEMENT SDN BHD ("MNH") FROM ISLAND CIRCLE DEVELOPMENT (M) SDN BHD ("ISLAND CIRCLE") FOR A CASH CONSIDERATION OF RM93,200,000 ("ACQUISITION")

Announcement Details/Table Section :


We refer to the announcements dated 29 March 2013, 16 April 2013 and 9 July 2013 in relation to the Acquisition ("Announcements").

Unless otherwise stated, abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the Announcements.

On 9 July 2013, shareholders of JRB had approved the Acquisition at an extraordinary general meeting duly convened, which marked the fulfilment of the condition precedent of the SSA on the even date.

On behalf of the Board of Directors of JRB, TA Securities Holdings Berhad wishes to announce thatthe Acquisition has been completed following the payment of the Balance Consideration to the Vendor on 23 August 2013.

Accordingly, MNH is now a 51%-owned subsidiary of the JRB Group.

This announcement is dated 26 August 2013.



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