Company Announcements

The Board of Directors of Shell Refining Company (Federation of Malaya) Berhad (“SRC”) wishes to announce that they had on 1 February 2016, received a letter/copy of press notice from RHB Investment Bank Berhad, acting as principal adviser for Malaysia Hengyuan International Limited (“MHIL”) dated 1 February 2016, wherein SRC was notified that MHIL had on 1 February 2016 entered into a conditional sale and purchase agreement (“SPA”) with Shell Overseas Holdings Limited (“SOHL”) for the acquisition by MHIL of 153,000,000 ordinary shares of RM1.00 each held by SOHL in SRC (“Sale Shares”), representing 51.0% of the total issued and paid up share capital of SRC for a total cash consideration of USD66,300,000.00, representing an offer price of USD0.43 per Sale Share (equivalent to RM274,979,250.00 or RM1.80 per Sale Share).

The Board of Directors will make further announcements as may be necessary or required.

A copy of the press notice by MHIL and a press release issued by our major shareholder, SOHL, is enclosed herewith for your information. 

This announcement is dated 2 February 2016.