Axington says late update on Dorr's latest shareholding is an 'administrative oversight'
AXINGTON on Tuesday disclosed controlling shareholder Dorr Global Healthcare's latest shareholding following recent placements, and said the late disclosure was due to "administrative oversight".
Dorr currently has a 77.88 per cent interest in Axington, after a share placement and a compliance placement were completed on Aug 17. The compliance placement was to restore Axington's free float; Dorr's acquisition of Axington earlier this year had resulted in it holding a 92.5 per cent stake in the latter.
Axington had announced the completion of the placements, but gave no mention of Dorr's new shareholding.
Dorr is controlled by cousins Nelson and Terence Loh, who are also co-founders of the scandal-hit Bellagraph Nova Group.
Trading in Axington's shares remains suspended.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US dollar soft on renewed Fed rate cut bets; yen on back foot
Possible class action lawsuit against Cordlife by customers could take at least 2 years
SAP extends CEO Klein’s contract until 2028
Paragon Reit posts 3% rise in Q1 gross revenue to S$73.8 million
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Singapore Airlines orders 1,000 tonnes of sustainable aviation fuel from Neste