GDA Offer For MAHB Succeeds

The offer is now unconditional and MAHB will be delisted

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 28 January 2025 – Gateway Development Alliance Sdn Bhd (“GDA“) and its shareholders (collectively, the “Consortium“) announced that, as at 5:00 p.m. today, the Consortium is validly holding approximately 1,576 million shares representing 94.47% of the total number of issued shares in Malaysia Airports Holdings Berhad (“MAHB“).

With the acceptance condition satisfied, the offer is now unconditional and the Consortium has achieved the thresholds necessary to de-list and acquire 100% of MAHB shares. GDA will shortly pay shareholders the offer price of RM11.00 in exchange for each share they have tendered into the offer.

The offer will now remain open until 12 February 2025 and shareholders have until 5:00 p.m. on this date to accept the offer for any shares they have yet to tender. There will be no further extension of the offer period.

GDA will now take the necessary steps to de-list MAHB from the Official List of Bursa Malaysia and the last day that MAHB shares will trade publicly will be 19 February 2025. In addition, GDA will also take the necessary steps to compulsorily acquire all the remaining shares in MAHB that it does not own after the final close of the offer period in accordance with Section 222 of the Capital Markets and Services Act 2007.

The Consortium looks forward to working closely with MAHB to realise MAHB’s potential to become a world-class airport operator that is competitive, efficient, commercial and service focused. GDA recognises that MAHB needs investment in its infrastructure and improvements in its operations in order to provide better services and support expansion, both of which will benefit wider Malaysia.

GDA believes that the transformation of MAHB is best undertaken as a private company, supported by strategic and financial investors with international technical expertise. This will enable MAHB to take a long-term approach to decision-making, capital investment and improvements in airline connectivity and customer service.

MAHB is a strategic Malaysian asset and will remain majority owned by Malaysian investors through UEM Group Berhad (a wholly-owned subsidiary of Khazanah Nasional Berhad) and the Employees Provident Fund, who together have a 70% interest in GDA.

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The issuer is solely responsible for the content of this announcement.