(Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Company’s announcements dated 5 March 2016, 18 March 2016, 11 April 2016, 12 April 2016, 23 May 2016, 24 May 2016, 26 May 2016, 20 June 2016, 4 July 2016, 19 July 2016, 24 August 2016, 5 September 2016, 21 September 2016, 7 October 2016, 12 October 2016, 27 October 2016, 4 November 2016, 7 November 2016, 9 November 2016 and 16 November 2016  in relation to the Proposals).  

On behalf of the Board, HLIB and Maybank IB wish to announce that the Proposed Acquisition has been completed on 25 November 2016 and the Adjusted Purchase Consideration was mutually agreed by the parties to be USD175,856,539, subject to Final Reconciliation (as defined in the SPA).

The payment of the consideration of RM0.76351 per Reach Energy Share to the entitled shareholders of Reach Energy who had submitted the Request Form for the qualifying acquisition share repurchase (“Dissenting Shares”) was made today.  

Following the satisfaction of the consideration for the qualifying acquisition share repurchase, the 180,810,650 Dissenting Shares will be cancelled and the issued and paid-up capital of Reach Energy will reduce to RM10,970,117.75 comprising of 1,097,011,775 Reach Energy Shares.

This announcement is dated 25 November 2016.