Ayondo also has to obtain SGX Regco's clearance for the shareholders' circular on the proposed disposal before it can be despatched to shareholders. Lastly, the group needs to obtain shareholders' approval for the transaction as well as all other regulatory approvals from, including but not limited to, the FCA and the SGX. Under Catalist rules, Ayondo must disclose in the circular its rationale for the disposal of AML and justify why it is in the best interest of the group and shareholders. It will also need to explain the developments in the group since its initial public offering in March 2018, leading to the proposed disposal, as well as Ayondo's business plans and directions moving forward.