KUALA LUMPUR (Dec 10): MyNews Holdings Bhd (KL:MYNEWS) said its public shareholding spread has fallen below the required threshold by 0.075%, a day after its second-largest shareholder’s stake raise.

MyNews’ public shareholding spread stood at 24.925% against the minimum requirement of 25%, it said in a filing.

The shortfall amounts to 560,000 shares, it added.

“The company will be exploring options to restore compliance and will make the necessary announcements in due course,” MyNews said.

MyNews’ second largest shareholder JAG Capital Sdn Bhd raised its stake to 20.29% on Dec 5 for RM28.24 million.

JAG, linked to Datuk Seri Johari Abdul Ghani, acquired 24.81 million shares for 60 sen apiece from the controlling Dang family, comprising executive chairman Dang Tai Luk, group chief executive Dang Tai Wen, and CEO-Food Dang Tai Hock.

The family remains MyNews’ largest shareholder with a 50.04% indirect stake via investment vehicle D&D Consolidated Sdn Bhd.

JAG also bought two more blocks of shares, comprising 5.19 million shares for RM3.12 million or 60 sen apiece, and another 18.28 million shares for 56 sen per share or RM10.24 million.

MyNews, which operates convenience retail chains under the brands MyNews, Korea-based CU Mart, WHSmith and Maru Coffee, is en route for its second year of profit after turning around from the Covid-19 lockdown-induced losses.

Net profit in the nine months ended July (9MFY2025) more than doubled to RM12.57 million from RM5.62 million a year ago, with revenue rising 9% to RM649.37 million from RM595.75 million in 9MFY2024.

Shares of MyNews ended 1.5 sen or 2.56% lower at 57 sen, giving it a market capitalisation of RM427.7 million. The stock is down 15.5% this year.