INVESTOR RELATIONS

1) INTRODUCTION

 The Board of Directors of Naim Holdings Berhad (“Naim” or “the Company”) wishes to announce that the Board had on 22 February 2014 endorsed and ratified the land exchange between wholly-owned subsidiary company, Naim Tujuh Sdn. Bhd. (“N7SB”) and the relevant authority whereby N7SB shall surrender 2 parcels of lands i.e. Lots 30 and 31 both of Block 34 Kemena Land District with total land size of 401 hectares in exchange with the following lands with a total land area of 431.3 hectares :-

(i) Lot 2532 Block 20 Kemena Land District

(ii) Lot 789 Block 20 Kemena Land District and

(iii) Lot 2547 Block 20 Kemena Land District

(“Land Exchange Exercise”).

2) INFORMATION OF N7SB

N7SB was incorporated in Malaysia as a private limited company under the Companies Act 1965 on 13 June 2000.

N7SB is principally engaged in investment and property holding.  It has an authorized and paid-up share capital of RM100,000 divided into 100,000 ordinary shares of RM1.00 each. 

3) EFFECT OF THE PROPOSED LAND EXCHANGE EXERCISE

a) Share Capital and Shareholding Structure of the Substantial Shareholders

 The Land Exchange Exercise will not have any effect on the issued and paid-up share capital and shareholding structure of the substantial shareholders in Naim. 

b)  Gearing

 The Land Exchange Exercise will not have any material effect on the gearing ratio of the Naim Group.

 4) APPROVAL REQUIRED

The Land Exchange Exercise is not subject to the approval of the shareholders of Naim. 

5) DIRECTORS’ AND SUBSTANTIAL SHAREHOLDERS’ INTEREST

None of the directors and substantial shareholders of the Company, or persons connected with them, have any interest, direct or indirect in the above transaction.

6) STATEMENT BY THE BOARD OF DIRECTORS

 The Board of Directors, having considered the aspects of the Land Exchange Exercise, is of the view that the Land Exchange Exercise is in the best interest of Naim Group.

 7) HIGHEST PERCENTAGE RATIO APPLICABLE TO THE LAND EXCHANGE EXERCISE PURSUANT TO PARAGRAPH 10.02(G) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA SECURITIES (“LISTING REQUIREMENTS”)

 The highest percentage ratio applicable to the Land Exchange Exercise pursuant to Paragraph 10.02 (g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad is approximately 22%.

This Land Exchange Exercise is deemed as a transaction of a revenue nature in the ordinary course of business under item 1 of Paragraph 10.2, Chapter 10 of the Listing Requirements.  The Board of Directors is of the view that it is prudent in keeping with good corporate governance to, nevertheless, make this announcement.

This announcement is dated 24th February 2014.