Sime Darby Disposes 10 per cent Stake in E&O

The company is selling 125.978 million shares and all of its convertible warrants to Paramount Spring Sdn Bhd, a company owned by Dato’ Seri Terry Tham Ka Hon, for RM2.60 per share and 30 sen per warrant. 

“The share sale forms part of our rationalisation of property investments taking into account opportunities for future growth in areas of strategic significance. The transaction reflects Dato’ Seri Terry Tham’s commitment to the long term future and success of E&O,” said Tan Sri Dato’ Seri Mohd Bakke Salleh, President and Group Chief Executive of Sime Darby. 

Following the sale, Sime Darby remains a shareholder of E&O with a stake of 12.2 per cent and it will continue to have board representation in the property developer. Proceeds from the sale will be used for working capital.

About Sime Darby 
Sime Darby is a Malaysia-based diversified multinational involved in key growth sectors, namely, plantation, industrial equipment, motors, property and energy & utilities. Founded in 1910, its business divisions seek to create positive benefits in the economy, environment and society where it has a presence.

With a workforce of 132,000 employees in 26 countries and 4 territories, Sime Darby is committed to building a sustainable future for all its stakeholders. It is one of the largest companies on Bursa Malaysia with a market capitalisation of RM45.67 billion (USD 11.01 billion) as at 2 June 2016.

For further information, please contact:

Shahriman Johari
External Communications 
Group Communications
Sime Darby Berhad
Tel: +(603) 2711 0923 
Mobile: +(6019) 333 8320 
Email: shahriman.johari@simedarby.com