AYS Ventures (KLSE:AYS) said Chiew Ho (L) Foundation acquired a substantial shareholding in the company, after it acquired Chiew Ho Holding.
Chiew Ho Holding holds 239.7 million shares in AYS Ventures, representing 57.27% of the company's issued shares, according to a Tuesday Malaysian bourse filing.
Following the purchase, Chiew Ho (L) Foundation, along with its acting parties - members of the Oh family and Ann Yak Siong Group - secured an exemption from launching a mandatory takeover offer for the company's shares, the filing said.
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