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LPI Capital Bhd (LPI) is set to distribute a significant windfall to its shareholders following a mandatory divestment from its parent company, Public Bank Bhd (PBB). In a filing to Bursa Malaysia on March 14, 2025, the general insurer announced plans to raise approximately RM993.53 million from the sale of its entire 1.13% stake in PBB, with over 70% of the proceeds dedicated to a special cash dividend. The disposal is a direct result of regulatory requirements. After PBB acquired a 44.15% stake in LPI in December 2024, LPI became a subsidiary of the banking giant. Section 22(5)(b) of the Companies Act 2016 mandates that a subsidiary cannot hold shares in its parent company, giving LPI a 12-month deadline—until December 3, 2025—to complete the divestment. A Lucrative, Forced Exit The planned sale involves 220.29 million PBB shares, which LPI originally acquired at a cumulative cost of RM156.69 million. Based on an estimated disposal price of RM4.51 per share—derived from the five-day ...

Step 1: Monthly Median Volume Calculation From the provided 2025 data: Month Trading Days Median Daily Volume (Shares) Shares Outstanding Liquidity Ratio (Median/Shares) Pass? (≥0.04%) Jan 2025 21 days 309,800 622,200,000 0.0498% ✅  PASS Feb 2025 20 days 340,300 622,200,000 0.0547% ✅  PASS Mar 2025 21 days 751,300 622,200,000 0.1207% ✅  PASS Apr 2025 22 days 646,900 622,200,000 0.1040% ✅  PASS May 2025 21 days 553,400 622,200,000 0.0889% ✅  PASS Jun 2025 22 days 458,500 622,200,000 0.0737% ✅  PASS Jul 2025 23 days 173,000 622,200,000 0.0278% ❌  FAIL Aug 2025 21 days 315,300 622,200,000 0.0507% ✅  PASS Sep 2025 21 days 287,800 622,200,000 0.0463% ✅  PASS Oct 2025 23 days 412,100 622,200,000 0.0662% ✅  PASS Nov 2025 20 days 706,700 622,200,000 0.1136% ✅  PASS Dec 2025 23 days 360,300 622,200,000 0.0579% ✅  PASS Step 2: Apply the Test Total months analyzed:  12 months (Jan-Dec 2025) Months passing (≥0.04%):  11 months (a...

  Step 1: Organize Data by Month I'll extract daily volumes from your PDF and calculate the median for each month. Step 2: Monthly Median Calculation & Liquidity Ratio Month Trading Days Median Daily Volume (Shares) Shares Outstanding Liquidity Ratio (Median/Shares) Pass? (≥0.04%) Jan 2025 21 days 51,700 366,800,000 0.0141% ❌  FAIL Feb 2025 20 days 46,400 366,800,000 0.0126% ❌  FAIL Mar 2025 21 days 90,900 366,800,000 0.0248% ❌  FAIL Apr 2025 22 days 59,100 366,800,000 0.0161% ❌  FAIL May 2025 21 days 172,000 366,800,000 0.0469% ✅  PASS Jun 2025 22 days 128,600 366,800,000 0.0351% ❌  FAIL Jul 2025 23 days 118,700 366,800,000 0.0324% ❌  FAIL Aug 2025 21 days 83,400 366,800,000 0.0227% ❌  FAIL Sep 2025 21 days 38,600 366,800,000 0.0105% ❌  FAIL Oct 2025 23 days 61,300 366,800,000 0.0167% ❌  FAIL Nov 2025 20 days 627,000 366,800,000 0.1709% ✅  PASS Dec 2025 23 days 241,800 366,800,000 0.0659% ✅  PASS (Note: November shows...