Possible Privatisation Of The Company (“Proposal”)

We refer to the announcements dated 28 May 2020, 29 May 2020, 26 June 2020 and 27 July 2020 in relation to the Proposal (“Announcements”).

The Company wishes to announce that the Company had today received a press notice from Lembaga Tabung Angkatan Tentera (“LTAT”) informing that, save as disclosed below, there has been no material development in respect of the Proposal. As highlighted in the Announcements, the Proposal is subject to, amongst others, the finalisation of the structure of the Proposal, the requisite funding for the Proposal and the required regulatory approval(s) for the Proposal.

Bank Negara Malaysia had vide its letter dated 7 August 2020, stated that it had no objection for LTAT to commence negotiations with the Company on the Proposal.

THE COMPANY WISHES TO HIGHLIGHT THAT, ACCORDING TO THE PRESS NOTICE ISSUED BY LTAT, NOTWITHSTANDING THE ABOVE, THE PROPOSAL IS STILL SUBJECT TO OTHER REGULATORY APPROVAL(S) REQUIRED FOR THE PROPOSAL AND THE PRESS NOTICE ISSUED BY LTAT DOES NOT AMOUNT TO A FIRM INTENTION BY LTAT TO UNDERTAKE THE PROPOSAL. ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT LTAT WILL PROCEED WITH THE PROPOSAL.

Please refer to the attached press notice by LTAT for further details.

SHAREHOLDERS ARE ADVISED TO EXERCISE CAUTION AND SEEK APPROPRIATE INDEPENDENT ADVICE WHEN DEALING IN THE BHB SHARES SINCE THERE IS NO CERTAINTY THAT LTAT WILL PROCEED WITH THE PROPOSAL.

This announcement is dated 27 August 2020.