Bangkok--24 Aug--SEC
Name of person filing the waiver
ISLAMIC BANK OF THAILAND (“I-Bank”)
Name of securities
MFC ASSET MANAGEMENT PUBLIC COMPANY LIMITED (“MFC”)
Subject of the waiver
I-Bank received a waiver of mandatory tender offer for acquiring 9,400,000 shares or 7.83% of the voting rights of MFC, from Thai Asset Management Corporation. After such acquisition, I-Bank will hold MFC’s shares totaling 49% of the voting rights. The reason of such waiver is that persons under Section 258 of I-Bank [the Ministry of Finance (“MOF”) and Government Savings Bank (“GSB”)] have held MFC’ shares over 25% of the voting rights in MFC before MFC was listed on the Stock Exchange of Thailand. Therefore, such acquisition only pass the existing 25% trigger point. The waiver was granted on the condition that (1) MOF, GSB and I-Bank must be counted as the same group of persons under 2(10) of Notification No. Tor Chor 7/2552 and (2) I-Bank has to acquire MFC’s shares within 6 months from the issue date of this waiver; otherwise such waiver shall lapse. The waiver is granted by virtue of Clause 13 of Notification No. KorChor. 53/2545 Re: Rules, Conditions and Procedures for Acquisition of Securities for Business Takeover, dated 18 November B.E. 2545 (2002).
Date of waiver
14 August 2009