1.4
Definition of "public"
(iii)
It is noted that a "public" shareholder excludes a person who holds or acquires shares through artificial means. What are the circumstances or examples where a person is deemed to hold or acquire shares through artificial means?
Some examples which fall within the ambit of "artificial means" are as follows:
(a)
shares given away as free shares;
(b)
shares given as a gift; and
(c)
providing financial assistance or loans to acquire shares to nominees of the directors or substantial shareholders.