OTHERS BRAHIM’S HOLDINGS BERHAD (“BHB” OR “COMPANY”) – OFFER TO ACQUIRE BHB’S 49% EQUITY INTEREST HELD IN BRAHIM’S AIRLINE CATERING HOLDINGS SDN. BHD. (“BACH”) (“OFFER”)

We wish to announce that the Board of Directors of BHB (“Board”) has after the close of business on 21st October 2015, received a conditional binding offer from SATS Investments Pte Ltd (a wholly-owned subsidiary of SATS Ltd), which sets out an offer to acquire from BHB, 490,000 ordinary shares of RM1.00 each representing 49% of the total issued and fully paid up ordinary shares in BACH for a proposed aggregate cash consideration of RM218.0 million (subject to adjustment) which is payable in the following manner:

(a)  RM110 million upon the completion of the transaction; and

(b)  The remaining RM108 million conditional upon certain financial targets being achieved.

The Board will appoint the relevant advisers in due course and deliberate on the terms of the said offer and decide on the next course of action. Further announcements will be made once the Board has made a decision on the conditional binding offer.

This announcement is dated 22nd October 2015.