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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.