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She has to do so because Bursa Malaysia requires listed companies to maintain a minimum public shareholding spread, ensuring a portion of their shares are held by the public. Generally, this is at least 25% of the total listed shares,
As of 27 February 2025, the public shareholding spread of the Company was at 23.953%.
Pursuant to the Company's application for an extension of time, Bursa Securities, vide its letter dated 5 February 2025, granted the Company an extension of time to comply with the public shareholding spread requirement for a six (6) months untill 27 May 2025 after taking into consideration of all circumstances of the matter.
In light of the shortfall in public shareholding spread and as part of the rectification plan, the Directors and/or Substantial Shareholders (excluding ABRDN) are considering to sell down by Direct Business Transactions to potential investors, whom are not connected persons to the Directors and/or Substantial Shareholders and will not be holding 5% or more in Feytech.
