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PUBLIC SHAREHOLDINGS SPREAD

Y&G CORPORATION BHD

Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD
Description
Y&G CORPORATION BHD ("Y&G" OR "THE COMPANY")
Public shareholding spread requirement pursuant to paragraph 8.02(1) of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities")

We refer to the Company's announcements dated 21 November 2019, 3 January 2020, 28 February 2020, 13 May 2020, 1 June 2020, 30 June 2020, 12 November 2020, 30 November 2020, 17 December 2020, 30 March 2021, 12 May 2021, 31 May 2021, 18 June 2021, 28 September 2021 and 25 November 2021 in relation to its non-compliance of the public shareholding spread requirement pursuant to paragraph 8.02(1) of the MMLR of Bursa Securities (“PSS Requirement”).

 

The Board of Directors of Y&G wishes to announce that its major shareholder, Kinta Aroma Sdn Bhd had, on 31 December 2021, entered into two (2) separate agreements for the cumulative disposal of 6,000,000 ordinary shares in Y&G via direct business transactions, representing approximately 2.75% of the Company’s total listed shares (“the Disposals”) in order to rectify the Company’s public shareholding spread. The Disposals are expected to be completed by 31 January 2022.

 

Upon the completion of the Disposals, the Company’s public shareholding spread is expected to be 25.0% which will be in compliance with the PSS Requirement.  An announcement will be made by the Company accordingly upon completion of the Disposals and receipt of the Record of Depositors confirming its compliance with the PSS Requirement.

 

This announcement is dated 3 January 2022.






Announcement Info

Company Name Y&G CORPORATION BHD
Stock Name Y&G
Date Announced 03 Jan 2022
Category General Announcement for PLC
Reference Number GA1-03012022-00024




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