AYS: Takeover of CosmoSteel now unconditional
This follows 3HA Capital crossing the 50% shareholding threshold, the steel solutions provider said in a filing with Bursa Malaysia.
'As of July 23, 2025, the offer has received valid acceptances in respect of nearly 229 million shares, representing approximately 87.88% of the total number of voting rights in the company.'
If the offeror receives valid acceptances for at least 90% of the total voting rights, it will have the right to compulsorily acquire the remaining shares from shareholders who did not accept the offer, at the final offer price, added AYS.
3HA Capital said it does not intend to revise the final offer price.
AYS' wholly-owned subsidiary, Ann Yak Siong (Singapore) Pte Ltd, holds a 14.9% stake in 3HA Capital.
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