CORPORATE ANNOUNCEMENTS
General Announcement for PLC
Reference No: GA1-04112015-00066
 
Company Name : ECM LIBRA FINANCIAL GROUP BERHAD
Stock Name : ECM
Date Announced : 04/11/2015
Type : Announcement
Subject : OTHERS
Description : ECM LIBRA FINANCIAL GROUP BERHAD ("ECMLFG" OR
"COMPANY")

PROPOSED DISTRIBUTION BY WAY OF PROPOSED CAPITAL REDUCTION AND PROPOSED SPECIAL DIVIDEND ("PROPOSED DISTRIBUTION")
Announcement Details/Table Section :

We refer to the announcements dated 1 June 2015, 2 June 2015, 22 June 2015, 27 July 2015, 28 July 2015, 20 August 2015, 28 August 2015, 30 September 2015 and 28 October 2015 in relation to, amongst others, the Proposed Distribution. Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the Company's circular to shareholders dated 28 July 2015

On behalf of the Company's Board of Directors ("Board"), CIMB Investment Bank Berhad wishes to announce that the Board has resolved to determine the cash distribution component under the Proposed Distribution to be equivalent to RM0.62 per ECMLFG ordinary share ("ECMLFG Share") of RM1.00 each. As at the date of this announcement, ECMLFG Group has realised RM20.0 million of its total loan assets held as at 31 July 2015. The remaining loan assets will be realised at a later date due to the extension of tenure of the loans as requested by the borrowers. The cash distribution component has been determined after taking into account the realisation of the loan assets to date, which is lower than anticipated. Based on ECMLFG's existing issued and paid-up share capital, the total cash to be distributed under the Proposed Distribution is equivalent to approximately RM177.69 million.

The balance of the Proposed Distribution shall be undertaken by way of the Proposed Distribution-In-Specie. For illustration purposes, based on the last trading prices of the EOB Securities on 3 November 2015 (being the last trading day prior to the date of this announcement) of RM1.60 for each EOB Stock Unit and RM0.23 for each EOB Warrant, the aggregate market value of EOB Securities under the Proposed Distribution-In-Specie is approximately RM110.69 million, which translates into a value of RM0.39 per ECMLFG Share, based on ECMLFG's existing issued and paid-up share capital.

Notwithstanding the determination of the cash distribution component as set out above, the actual total distribution may be higher or lower depending on the market value of the EOB Securities as at the entitlement date for the Proposed Distribution.

The entitlement date for the Proposed Distribution will be announced in due course. Since the Proposed Capital Reduction and the Proposed Special Dividend are conditional on each other and are intended to be completed concurrently, the entitlement date for both proposals shall be the same.

This announcement is dated 4 November 2015.

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