Kuala Lumpur, Malaysia, April 14, 2026 (GLOBE NEWSWIRE) -- Megan Holdings Limited (Nasdaq: MGN) (the "Company") today issued the following statement regarding recent volatility in its share price.
The Company confirms that its directors, executive officers, shareholders holding 5% or more of its outstanding Class A Ordinary Shares or Class B Ordinary Shares, and certain other shareholders remain subject to lock-up agreements. These agreements restrict the sale of their shares for a period of 180 days following the closing of the Company's recent follow-on offering, which occurred on February 27, 2026. Accordingly, these parties are not permitted to sell their shares until the expiration of the applicable lock-up period.
The Company further notes that recent updates by certain trading platforms to the Company's reported public float reflect information previously disclosed in connection with the Company's follow-on offering. These updates do not represent any new issuance or unlocking of shares, or any change in the Company's capital structure beyond what has already been publicly disclosed. As of the date of this release, there has been no material increase in freely tradable shares beyond previously disclosed levels.
The Company believes that recent share price volatility may be attributable, in part, to market dynamics, including data updates across trading platforms and limited liquidity during after-hours trading. There has been no fundamental change in the Company's business, operations, or financial condition.
Megan Holdings Limited remains focused on executing its strategic initiatives and delivering long-term value to its shareholders.
About Megan Holdings Limited
Megan Holdings Limited (Nasdaq: MGN) is a Malaysia-based company principally engaged in the development, construction, and maintenance of aquaculture farms and related works. Since its inception in 2020, the Company has strived to establish itself as a trusted and experienced provider of shrimp farm related maintenance services in Malaysia. Complementary to its upgrading and maintenance services, Megan also assists customers with the design and development of new farms, including the development and construction of a shrimp hatchery center in Semporna, Sabah, and the development of a 111-acre shrimp farm in Tawau, Sabah, Malaysia. Megan also assists customers in sourcing building materials and machineries available for rental for use on their farms, positioning itself as a one-stop center for aquaculture and agriculture needs. For more information, please visit the Company's website: https://www.meganmezanin.com/.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "believe," "plan," "expect," "intend," "should," "seek," "estimate," "will," "aim" and "anticipate" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the U.S. Securities and Exchange Commission.
For media inquiries, please contact:
Megan Holdings Limited
Investor Relations Department
Email: info@meganmezanin.com
