General Announcement::NOTICE TO CERTIFICATE HOLDERS

Issuer & Securities

Issuer/ Manager
BAGAN CAPITAL LTD
Securities
BAGANCAP US$398.8M ETC 210923 - XS1486565507 - 4U3B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Oct-2016 16:29:24
Status
New
Announcement Sub Title
NOTICE TO CERTIFICATE HOLDERS
Announcement Reference
SG161026OTHRXOKW
Submitted By (Co./ Ind. Name)
Hafizuddin Sulamian
Designation
Director, Khazanah Nasional Berhad
Effective Date and Time of the event
25/10/2016 17:00:00
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange Securities Trading Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to sell, or the solicitation of an offer to buy or subscribe for any securities.

Bagan Capital Ltd
Company No. LL12982
(incorporated in the Federal Territory of Labuan, Malaysia with limited liability under the Labuan Companies Act, 1990)

USD398,800,000
Exchangeable Trust Certificates due 2021
ISIN XS1486565507
exchangeable into ordinary shares of par value of HKD0.10 each of
Beijing Enterprises Water Group Limited

with recourse to
Khazanah Nasional Berhad
Company No. 275505-K
(incorporated in Malaysia with limited liability under the Companies Act, 1965)

NOTICE TO CERTIFICATEHOLDERS
Kuala Lumpur, 25 October 2016
Adjustments made to Exchange Property in respect of the Exchangeable Trust Certificates due 2021 exchangeable into ordinary shares of HKD0.10 each of Beijing Enterprises Water Group Limited ( BEWG ) ("BEWG Shares") issued by Bagan Capital Ltd ("Bagan") (the Certificates )
Khazanah Nasional Berhad ("Khazanah"), acting in its capacity as Wakeel, on behalf of Bagan gives notice to Certificateholders (pursuant to Condition 7(h) of the Conditions of the Certificates (the "Conditions")) of adjustments to be made to the Exchange Property pursuant to the payment of a Capital Distribution in the form of a cash dividend by BEWG, as further described below.
Interim Cash Dividend
On 30 August 2016, BEWG declared its interim dividend of HKD0.059 per BEWG Share for the six months ended 30 June 2016 (the "Dividend"). The Dividend was paid on 14 October 2016.

Adjustment to Exchange Property
Pursuant to Condition 7(g)(2) of the Conditions of the Certificates, the Capital Distribution by way of a cash dividend payment by BEWG of HKD0.059 per BEWG Share constitutes a Relevant Event and, accordingly, the cash attributable to the Exchange Property, being HKD23,591,548.72, shall be included as part of the Exchange Property. Consequently, the Exchange Property has been revised to 399,856,758 BEWG Shares and HKD23,591,548.72 in cash effective from 14 October 2016. The Exchange Ratio per USD1,000 in nominal value of the Certificates has been revised to 1,002.6498 BEWG Shares and HKD59.16 in cash.
All capitalized terms not otherwise defined herein have the same meanings given to them in the Conditions.
This notice should be read in conjunction with BEWG s announcement to Hong Kong Stock Exchange in respect of the Interim Dividend dated 30 August 2016 and the Conditions set out in the Offering Circular dated 20 September 2016 relating to the Certificates.

Khazanah Nasional Berhad
25 October 2016

Attachments

2016-10-25_ANNOUNCEMENT_e-Bagan _Notice_AdjustmentExchangeProp.pdf
Total size =93K