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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.