Related party transactions

10.40

X Bhd is a listed issuer. X Bhd holds 20% of the total shares in Y Sdn Bhd. Mr. A is a major shareholder of X Bhd and Y Sdn Bhd. X Bhd intends to dispose of its 20% shareholding in Y Bhd to the shareholders in X Bhd, including Mr. A, on a pro-rata basis via a restricted offer for sale. Will this be considered as a related party transaction?

No, pursuant to paragraph 10.08(11)(q) of the Main LR, this disposal will not be considered as a related party transaction.