Chew Choo Soon and Chang Wai Hoon made an offer to acquire remaining 13.33% stake in Zenworld Holdings Berhad (KLSE:MYKRIS) for MYR 16.79 million on November 2, 2021. Chew Choo Soon and Chang Wai Hoon entered into a letter of intent to acquire remaining 13.33% stake in Zenworld Holdings Berhad (KLSE:MYKRIS) for MYR 16.79 million on January 14, 2022. Under the terms Chew Choo Soon and Chang Wai Hoon will acquire 39.99 million shares for MYR 0.42 per share. The exit price was MYR 0.49 and dividend of MYR 0.07 was paid. Pre-acquisition Joint Offerors collectively hold 260,002,800, approximately 86.67% and post-acquisition will hold 100% stake in Zenworld Holdings Berhad. Chew Choo Soon and Chang Wai Hoon holding 50% stake each.

The Offer is not conditional upon any minimum level of acceptances. The Offer is subject to the notification from the SC that it has no further comments on the contents of the Offer Document being obtained. The transaction is subject to shareholders' approval on the resolutions pertaining to the MyKRIS Asia Disposal and Proposed Withdrawal of Listing to be tabled at the extraordinary general meeting of MyKRIS to be convened. On January 7, 2022, the resolutions pertaining to the MyKRIS Asia Disposal and the Proposed Withdrawal of Listing were approved by the shareholders of MyKRIS during the EGM. The Joint Offerors do not intend to maintain the listing status of MyKRIS on the LEAP Market of Bursa Securities. The Offer will remain open for acceptance for a period of not less than 21 days from the Posting Date, unless revised. The offer commences on November 2, 2022, and will remain open till February 25, 2022. The Offerors intend to compulsorily acquire any remaining Offer Shares from the Holders who do not accept the Offer and/or any Holder who has failed or refused to transfer the Offer Shares to the Joint Offerors in accordance with the terms and conditions as set out in the Offer Document. As the Offer is not conditional upon any minimum level of acceptance, the Closing Date shall not be later than 5 April 2022, being the 60th day from the Posting Date. As of February 11, 2022, Chew Choo Soon and Chang Wai Hoon has received valid acceptance of 93.05% stake of Zenworld Holdings Berhad.

UOB KAY HIAN SECURITIES (M) SDN BHD acted as financial advisor to Chew Choo Soon and Chang Wai Hoon. MainStreet Advisers Sdn Bhd acted as fairness opinion adviser to Zenworld Holdings Berhad. ShareWorks Sdn Bhd acted as registrar to Zenworld Holdings Berhad.

Chew Choo Soon and Chang Wai Hoon completed the acquisition of remaining 13.33% stake in Zenworld Holdings Berhad (KLSE:MYKRIS) on February 25, 2022.