As at 30 June 2024, the substantial Shareholders and other persons (other than the Directors and the chief executives of the Company), who had interests or short positions in the Shares or underlying Shares which would fall to be disclosed to the Company under the provisions of Divisions 2 and 3 in Part XV of the SFO, or which would be required, pursuant to section 336 of the SFO, to be entered in the register referred to therein, were as follows:
Name of Substantial Shareholder |
Capacity |
Number of Shares Held |
% of Total Issued Shares (Note 1) |
Sakai Global | Interest of controlled corporation (Note 2) |
4,205,925,735 | 95.09 (L) |
The Sakai Trustee | Beneficial owner | 1,979,803,846 | 44.76 (L) |
The Sakai Trustee | Interest of controlled corporation (Note 2) |
1,083,743,314 | 24.50 (L) |
The Sakai Trustee | Interest of controlled corporation (Note 2 and 4) |
1,142,378,575 | 25.83 (L) |
LGL | Beneficial owner | 804,445,667 | 18.19 (L) |
CLK Fund | Beneficial owner (Note 4) | 1,142,378,575 | 25.83 (L) |
Mr. Chen Yepern | Interest of controlled corporation (Note 2 and 3) |
3,063,547,160 | 69.26 (L) |
Mr. Chen Yepern | Interest of controlled corporation (Note 2 and 4) |
1,142,378,575 | 25.83 (L) |
Mr. Chen Cherchi | Beneficiary of a discretionary trust (Note 3) |
1,531,773,583 | 34.63 (L) |
Mr. Chen Cherchi | Beneficial owner (Note 3) | 291,036,980 | 6.58 (L) |
Mr. Chen Cien Then | Beneficiary of a discretionary trust (Note 3) |
1,531,773,583 | 34.63 (L) |
Mr. Chen Cien Then | Beneficial owner (Note 3) | 291,036,980 | 6.58 (L) |
Name of Shareholder |
Capacity |
Number of Shares Held |
% of Total Issued Shares (Note 1) |
Mr. Chan Kin Sun | Beneficial owner | 209,859,338 | 4.74 (L) |
Mr. Chan Kin Sun | Interest of spouse | 12,736,068 | 0.29 (L) |
Ms. Cheng Kwan Ying Jennifer |
Beneficial owner | 12,736,068 | 0.29 (L) |
Ms. Cheng Kwan Ying Jennifer |
Interest of spouse | 209,859,338 | 4.74 (L) |
Notes:
(1) Based on 4,422,990,160 Shares in issue as at 30 June 2024.
(2) Such interests include (i) 1,979,803,846 Shares directly held by The Sakai Trustee, as trustee of The Sakai Trust, a Jersey law governed discretionary family trust established by the late Dr. Chen, who passed away on 8 December 2023, as settlor for the purposes of succession planning. The Sakai Trustee is entrusted with legal title to the trust assets for the benefit of the late Dr. Chen and his family; (ii) 1,083,743,314 Shares indirectly held by The Sakai Trustee through CLK Capital, LGL and LEL; and (iii) 1,142,378,575 Shares to be held by CLK Fund (as referred to note 4 below for details). All of CLK Capital, LGL, LEL and CLK Fund are in turn wholly owned by The Sakai Trustee as the trustee of The Sakai Trust. The Sakai Trustee is therefore deemed to be interested in the Shares held by CLK Capital, LGL, LEL and CLK Fund. Furthermore, The Sakai Trustee is wholly owned by Sakai Global which is in turn accustomed to act in accordance with the directions of Mr. Chen Yiy Fon and Mr. Chen Yepern and both of them are members and directors of Sakai Global after the passing away of Dr. Chen. Hence, Mr. Chen Yepern and Sakai Global are deemed to be interested in the Shares held by The Sakai Trustee.
(3) After the passing away of Dr. Chen, out of an aggregate of 3,063,547,160 Shares under The Sakai Trust, a total of 1,531,773,577 Shares can be distributed pursuant to its terms (including 367,625,657 Shares to Mr. Chen Yiy Fon and 291,036,980 Shares to each of Mr. Chen Yiy Hwuan, Mr. Chen Yepern, Mr. Chen Cherchi and Mr. Chen Cien Then). The Sakai Trust continues to hold 1,531,773,577 Shares on trust for specific beneficiaries (including 367,625,657 Shares for Mr. Chen Yiy Fon and 291,036,980 Shares for each of Mr. Chen Yiy Hwuan, Mr. Chen Yepern, Mr. Chen Cherchi and Mr. Chen Cien Then) until their respective directions; and 1,531,773,583 Shares on trust on a discretionary basis (each of Mr. Chen Yiy Fon, Mr. Chen Yiy Hwuan, Mr. Chen Yepern, Mr. Chen Cherchi and Mr. Chen Cien Then is a beneficiary thereof), and The Sakai Trustee is the trustee.
(4) Such interests represent 1,142,378,575 Settlement Shares or such Adjusted Settlement Shares (both as defined in the Circular) for the development funding of the Naga 3 Project (as defined in the Circular) that will be issued to CLK Fund upon the completion of the Guaranteed Maximum Sum Design and Build Agreement and the Subscription Agreement (both as defined in the Circular) on or before 30 September 2029 or such other extended date as is agreed between the parties.
(5) The Letter “L” denotes a long position in the Shares.
Save as disclosed above, as at 30 June 2024, no other persons (other than the Directors and the chief executives of the Company) had interests or short positions in the Shares or the underlying Shares which would fall to be disclosed to the Company under provisions of Divisions 2 and 3 in Part XV of the SFO, or which would be required, pursuant to section 336 of the SFO, to be entered in the register referred to therein.