Shanaya Limited (SG:SES) has released an update.
Shanaya Limited has announced that it will not be pursuing a Whitewash Waiver after its reverse takeover of CPH Ltd., as its controlling shareholders’ stake remains unchanged at 49.12% since the takeover. Additionally, adjustments have been made to the Irrevocable Undertakings to prevent a transfer of control to Martin, eliminating the need for a Scale Down Scenario or a Potential Transfer of Controlling Interest Resolution. The company has clarified the share subscription allotment for its major shareholders, with no shift in controlling interests expected.
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