Salcon berhad ("Salcon" Or "The Company") (A) proposed Acquisition of 74.165% of oriental Capital Assurance Berhad ("oriental") for a Total cash consideration of RM129,805,536; And (B) Proposed Mandatory General offer for the Remaining Ordinary Shares of RM1.00 each In Oriental Which Are Not Already Owned By It ("Offer Shares") for A Cash Consideration Of RM1.75 For Each Offer Share. (Collectively Referred As The "proposals")

BackSep 14, 2007
General Announcement
Reference No MM-070914-60711

Submitting Merchant Bank
:
 MIMB INVESTMENT BANK BERHAD 
Company Name
:
 SALCON BERHAD 
Stock Name
:
 SALCON
Date Announced
:
 14/09/2007


Type : Announcement
Subject : SALCON BERHAD ("Salcon" or "the Company")

(A) PROPOSED ACQUISITION OF 74.165% OF ORIENTAL CAPITAL ASSURANCE BERHAD ("ORIENTAL") FOR A TOTAL CASH CONSIDERATION OF RM129,805,536; AND

(B) PROPOSED MANDATORY GENERAL OFFER FOR THE REMAINING ORDINARY SHARES OF RM1.00 EACH IN ORIENTAL WHICH ARE NOT ALREADY OWNED BY IT ("OFFER SHARES") FOR A CASH CONSIDERATION OF RM1.75 FOR EACH OFFER SHARE.

(COLLECTIVELY REFERRED AS THE "PROPOSALS")

Contents :

We refer to the announcement dated 28 August 2007 in relation to the abovementioned Proposals. On behalf of the Board of Directors of Salcon, MIMB Investment Bank Berhad (formerly known as Malaysian International Merchant Bankers Berhad) wishes to announce that the Company has submitted an application to the Securities Commission (pursuant to the Guidelines on the Acquisition of Interest, Mergers and Take-Overs by Local and Foreign Interests issued by the Foreign Investment Committee) in relation to the Proposals on 14 September 2007.

This announcement is dated 14 September 2007.