General Announcement::NOTICE TO CERTIFICATEHOLDERS

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
18-Jul-2019 18:07:13
Status
New
Announcement Sub Title
NOTICE TO CERTIFICATEHOLDERS
Announcement Reference
SG190718OTHRHO8J
Submitted By (Co./ Ind. Name)
Hafizuddin Sulaiman
Designation
Director, Khazanah Nasional Berhad
Effective Date and Time of the event
18/07/2019 18:05:00
Description (Please provide a detailed description of the event in the box below)
NOTICE TO CERTIFICATEHOLDERS

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.

Final Cash Dividend
On 27 March 2019, BEWG declared its final dividend of HKD0.083 per BEWG Share for the year ended 31 December 2018 (the "Dividend"). The Dividend was paid on
28 June 2019.

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 HKD0.083 per BEWG Share constitutes a Relevant Event and, accordingly, the cash attributable to the Exchange Property, being HKD33,188,110.91, shall be included as part of the Exchange Property. Consequently, the Exchange Property has been revised to 399,856,758 BEWG Shares and HKD180,735,254.62 in cash effective from 28 June 2019. The Exchange Ratio per USD1,000 in nominal value of the Certificates has been revised to 1,002.6498 BEWG Shares and HKD453.20 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 Dividend dated 27 March 2019 and the Conditions set out in the Offering Circular dated 20 September 2016 relating to the Certificates.

Attachments

2019-06-28_ANNOUNCEMENT_e-Bagan _Notice_AdjustmentExchangeProp_Final.pdf
Total size =91K