Bank Islam Bhd has made a Call Option Shares which represent 7,350,000 ordinary shares in its wholly-owned subsidiary BIMB Investment Management Bhd which constitute an aggregate shareholding of 49% of the entire issued and paid-up ordinary share capital. The total Call Option Price of RM14,700,000.00 which was arrived at on a willing seller willing buyer basis, payable by Arabesque to Bank Islam for each Call Option Share at RM2.00 per share shall be satisfied by means of a dividend payment mechanism.
Arabesque shall pay/satisfy some or all of the Call Option Price for the relevant Call Option Shares over a period of up to ten (10) years from the Completion Date of Call Option by cash or by setting off and paying to Bank Islam all dividends payable by the Company to Arabesque up to the maximum amount of Call Option Price. The Securities Commission (“SC”) has given its approval on the proposed change of shareholdings in BIMB Investment on 15 April 2022
