Financial Support In Connection With A General Offer For Malaysian Joint Venture Partner
SCB's principal subsidiary is Safeguards Securicor Sdn Bhd ("SSSB"), Malaysia's leading security solutions provider and a joint venture between SCB (51% shareholding) and G4S (49% shareholding).
The G4S guarantee will be for a term of 12 months, with all shares and warrants acquired under the public offer serving as collateral. There will be no change in G4S's shareholding in SSSB. However, G4S will, under the agreement, exercise management and operational control of SSSB for a period of 12 months.
Other than the provision of the guarantee, there will be no financial or accounting implications for G4S arising out of the agreement with eighth Jewels.