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The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking and underwriting of life and general insurance business.
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
AFFIN BANK BERHAD ("ABB" OR "BANK") PROPOSED DIVESTMENT OF 7,000,000 ORDINARY SHARES IN AFFIN HWANG ASSET MANAGEMENT BERHAD ("AHAM"), REPRESENTING 63% OF THE EQUITY INTEREST IN AHAM, BY AFFIN HWANG INVESTMENT BANK BERHAD ("AFFIN HWANG IB"), A WHOLLY-OWNED SUBSIDIARY OF ABB ("PROPOSED DIVESTMENT") |
|
Unless otherwise defined, the abbreviations and definitions used throughout this announcement shall have the same meaning as those defined in ABB’s circular to shareholders dated 26 April 2022 in relation to the Proposed Divestment (“Circular”). Reference is made to the announcements dated 28 January 2022 and 1 July 2022 in relation to the Proposed Divestment as well as the Circular. On behalf of the Board, Affin Hwang IB wishes to announce that the last of the Conditions Precedents to the SPA has been fulfilled on 1 July 2022, following the receipt of approvals by the SC for the matters stated under Section 8(ii) of the Circular on the same date. Accordingly, the SPA has become unconditional on 1 July 2022.
This announcement is dated 5 July 2022. |
|
| Company Name | AFFIN BANK BERHAD |
| Stock Name | AFFIN |
| Date Announced | 05 Jul 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-04072022-00073 |
Copyright 2020 Affin Bank Berhad 197501003274 (25046-T).
