Along with the SSA, Maxis announced that it has signed a Shareholders Agreement with DNB, MoF Inc., YTL Power International Berhad, Infranation Sdn Bhd, and U Mobile Sdn Bhd where is said the money previously prepaid (the “AA Prepayment”) will now be considered a loan to DNB. Where the loan gives it voting rights in DNB, with each Ringgit loaned equaling one vote.
The Shareholders Agreement also outlines how it will move to a dual 5G network model. This includes an option for MoF Inc. to sell its shares and transfer its loan in DNB. Following this, there will be a restructuring where shareholders will decide whether to stay with DNB or sell their shares. Those who sell their shares might start a new company for the second 5G network or opt out of holding shares in the new 5G network provider.
Maxis said the investment is not expected to significantly impact its earnings, net assets, or debt levels for the financial year ending December 31, 2024.
