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ANNOUNCEMENTS
Type General
Date
03 September 2010
Subject
MEASAT GLOBAL BERHAD (“MEASAT” OR “COMPANY”) - DESPATCH OF INDEPENDENT ADVICE CIRCULAR IN RELATION TO THE CONDITIONAL TAKE-OVER OFFER BY MEASAT GLOBAL NETWORK SYSTEMS SDN BHD ("MGNS") THROUGH CIMB INVESTMENT BANK BERHAD AND MAYBANK INVESTMENT BANK BERHAD ("MAYBANK IB") TO ACQUIRE ALL OF THE ORDINARY SHARES OF RM0.78 EACH IN MEASAT NOT ALREADY HELD BY MGNS ("OFFER SHARES") AT A CASH OFFER PRICE OF RM4.20 FOR EACH OFFER SHARE ("OFFER")
Contents
We refer to our earlier announcements dated 28 July, 13 August, 18 August and 27 August 2010 in relation to the Offer.

Pursuant to Paragraph 8.02 (3) of the Main Market Listing Requirements (“LR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), MEASAT wishes to announce that based on the Record of Depositors relating to the securities of the Company only 14.83% of the total listed shares of the Company (comprising of 389,933,155 shares of RM0.78 each) are in the hands of public shareholders as at 5.00 p.m. on 2 September 2010. Consequently, MEASAT is currently not in compliance with the lower public shareholding spread requirement of 20% as recognised by Bursa Securities for MEASAT. MGNS has on 3 September 2010 informed the Company that as at 3 September 2010, the Offer was still conditional upon the Offer having been validly accepted by the holders of not less than nine-tenths in the nominal value of the Offer Shares (“90% Acceptance Condition”).

By way of background, Bursa Securities had on 6 September 2007 accepted a lower public shareholding spread of 20% of MEASAT’s total issued and paid-up share capital of 389,933,155 shares as being in compliance with the public shareholding spread requirement (“Public Spread Requirement”).

As set out in the Offer Document dated 18 August 2010 in relation to the Offer, the Offeror does not intend to maintain the listing status of MEASAT in the event the 90% Acceptance Condition is achieved, which would result in MEASAT being unable to comply with the Public Spread Requirement. If and when the Offer becomes unconditional, the Offeror will procure MEASAT to take the necessary procedures to withdraw its listing status from the Official List of Bursa Securities in accordance with the LR.

Premised on the above, MEASAT is not considering any action to enable it to comply with the Public Spread Requirement.

This announcement is dated 3 September 2010.
   
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