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17 July 2019

Clarification on news report regarding CIMB shares

We refer to The Edge Financial Daily’s report today, “Khazanah sold 3.45% CIMB stake worth an estimated RM1.7b” and a filing to Bursa Malaysia yesterday on the same matter.

Khazanah Nasional Berhad (“Khazanah”) wishes to clarify that it did not dispose of the CIMB Group Holdings Bhd (“CIMB”) shares as reported. The shares were transferred pursuant to securities lending agreements that Khazanah had entered into with CGS-CIMB Securities Sdn Bhd, Credit Suisse Securities (Europe) Limited and J.P. Morgan Securities PLC respectively, in relation to an exchangeable bond issued recently. The exchangeable bond will not have a dilutive effect on CIMB’s earnings per share.

The issuance of exchangeable bonds is part of Khazanah’s regular financing activities. Since 2004, we have issued 10 exchangeable bonds.

END



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