OTHERS COMFORT GLOVES BERHAD ("Comfort Gloves", "COMFORT", or "the Company") COMFORT GLOVES BERHAD
Type Announcement Subject OTHERS Description COMFORT GLOVES BERHAD ("Comfort Gloves", "COMFORT", or "the Company") Referring to the article published by The Edge Markets dated 4 September 2020 which reported that Comfort Gloves’ majority shareholder sells off stake.
The Company wishes to clarify that the disposal of shares by Lau Joo Kien Brian (the son of Dato’ Lau Eng Guang) in Keen Setup Sdn. Bhd. is to his immediate family member (herein refer to internal restructuring of Keen Setup Sdn. Bhd.).
After the internal restructuring of Keen Setup Sdn. Bhd., Lau Joo Kien Brian's controlling interest in Keen Setup Sdn. Bhd. had dropped below 20% hence he ceased to have deemed interest through Keen Setup Sdn. Bhd. pursuant to Section 8(4) of the Companies Act 2016, and thus, ceased as a substantial shareholder of the Company.
In conclusion, Keen Setup Sdn. Bhd. is still controlled by the Lau’s family and their controlling interest in COMFORT via Keen Setup Sdn. Bhd. remained unchanged.
This announcement is dated 4 September 2020.
Announcement Info Company Name COMFORT GLOVES BERHAD Stock Name COMFORT Date Announced 04 Sep 2020 Category General Announcement for PLC Reference Number GA1-04092020-00028
Stock: [COMFORT]: COMFORT GLOVES BERHAD
2020-09-04 14:11 | Report Abuse
OTHERS COMFORT GLOVES BERHAD ("Comfort Gloves", "COMFORT", or "the Company")
COMFORT GLOVES BERHAD
Type Announcement
Subject OTHERS
Description COMFORT GLOVES BERHAD ("Comfort Gloves", "COMFORT", or "the Company")
Referring to the article published by The Edge Markets dated 4 September 2020 which reported that Comfort Gloves’ majority shareholder sells off stake.
The Company wishes to clarify that the disposal of shares by Lau Joo Kien Brian (the son of Dato’ Lau Eng Guang) in Keen Setup Sdn. Bhd. is to his immediate family member (herein refer to internal restructuring of Keen Setup Sdn. Bhd.).
After the internal restructuring of Keen Setup Sdn. Bhd., Lau Joo Kien Brian's controlling interest in Keen Setup Sdn. Bhd. had dropped below 20% hence he ceased to have deemed interest through Keen Setup Sdn. Bhd. pursuant to Section 8(4) of the Companies Act 2016, and thus, ceased as a substantial shareholder of the Company.
In conclusion, Keen Setup Sdn. Bhd. is still controlled by the Lau’s family and their controlling interest in COMFORT via Keen Setup Sdn. Bhd. remained unchanged.
This announcement is dated 4 September 2020.
Announcement Info
Company Name COMFORT GLOVES BERHAD
Stock Name COMFORT
Date Announced 04 Sep 2020
Category General Announcement for PLC
Reference Number GA1-04092020-00028