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KSL Holdings Substantial Shareholders Gain Regulatory Exemption For Mandatory Offer

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The Securities Commission Malaysia has approved an application by a group of KSL Holdings (KLSE:KSL) substantial shareholders who had sought an exemption from undertaking a mandatory general offer for the company's remaining voting shares.

The exemption relates to the transfer of individual shareholdings held by members of families in three holding companies, Premiere Sector, Noble Heritage and Gorgeous Horizon, to Success Lineage, according to a Monday Bursa Malaysia filing.

Following the transfer, Success Lineage will have a deemed interest in the property developer held by the three companies.

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