ACE Holdings Issues Corrective Disclosures Following the SC’s Sanctions and Offers Unconditional Redemption to Subscribers

4 April 2019 | Kuala Lumpur

The Securities Commission Malaysia (SC) today informed the public that ACE Holdings Berhad (AHB) had on 1 April 2019 issued corrective disclosures following the SC’s sanctions issued on 11 December 2018. The sanctions relate to false or misleading information contained in AHB’s Private Placement Memorandum dated 8 September 2015 and Private Placement Memorandum dated 5 January 2018 (collectively referred to as PPM 2015 and 2018).

In addition to the corrective disclosures, AHB has also issued an unconditional redemption offer to all investors who have subscribed to the private placements based on PPM 2015 and 2018.

The corrective disclosures and the unconditional redemption offer can now be accessed at AHB’s website. According to the information provided on the website, a total amount of RM814 million was raised from PPM 2015 and 2018. The website also mentions that subscribers are given 21 days from 1 April to submit their application for the unconditional redemption, if they wish to do so.

Subscribers who are unsure about their option or rights with regards to this matter are advised to seek professional financial advice.

SECURITIES COMMISSION MALAYSIA

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The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

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