On 7th May 2004, J.I. Motor Holdings B.V. ("JIMHBV") entered into a Sale and Purchase Agreement (the "Agreement") with Jardine Cycle & Carriage Limited ("JC&C") for the sale of its entire interest of 12,415,000 shares of RM1.00 each in Cycle & Carriage Bintang Berhad ("CCB") to JC&C conditional upon fulfilment of certain terms and conditions of the Agreement. The required terms and conditions of the Agreement have been fulfilled and 12,415,000 CCB shares were sold to JC&C on 30th August 2004.
Jardine International Motor Holdings N.V. ("JIMHNV") has an interest in more than 15% of the voting shares in JIMHBV.
Jardine International Motors Limited ("JIML") has an interest in more than 15% of the voting shares in JIMHNV.
Jardine Motors Group Holdings Limited ("JMGHL") has an interest in more than 15% of the voting shares in JIML.
Accordingly, JMGHL is deemed to be interested (through its direct interest in JIML and its indirect interest in JIMHNV and JIMHBV) in the CCB shares held by JIMHBV.
Following the disposal, JIMHBV ceased to have an interest in CCB and accordingly, JMGHL's deemed interest in CCB shares through JIML, JIMHNV and JIMHBV also ceased.