SCHEDULE: Chan Choon Yew Lester Discloses 41.24% Stake in GrowHub

Chan Choon Yew Lester and his wholly-owned entities have disclosed beneficial ownership of 41.24% of THE GROWHUB LIMITED's ordinary shares, primarily through high-voting Class B shares.

Summary

• Chan Choon Yew Lester, a Singaporean citizen, beneficially owns 10,433,340 ordinary shares of THE GROWHUB LIMITED, representing 41.24% of the total outstanding shares.
• This ownership includes 8,340 Class B Ordinary Shares held directly and 10,425,000 Class B Ordinary Shares held through three wholly-owned entities: Initium Novum Capital Pte. Ltd., Vita Nova Ventures Pte. Ltd., and EMJ Capital Holdings Pte. Ltd.
• Chan Choon Yew Lester exercises sole voting and dispositive power over all 10,433,340 shares.
• The shares consist of Class A and Class B Ordinary Shares, where Class B shares are convertible to Class A on a one-for-one basis and carry ten votes per share, while Class A shares carry one vote per share.
• The percentage of class is calculated based on 25,299,810 total ordinary shares outstanding as of September 11, 2025, comprising 14,866,470 Class A and 10,433,340 Class B shares.
• The acquisition of these shares by Chan Choon Yew Lester and his entities occurred on August 23, 2024, through the transfer of their shareholdings in THE GROWHUB INNOVATIONS COMPANY LIMITED (GrowHub BVI) to THE GROWHUB LIMITED as consideration.

Sentiment

Score: 6

Explanation: The filing is a standard disclosure of beneficial ownership. The high concentration of voting power in Class B shares by a single individual could be seen as positive for stability and long-term vision, but potentially negative for minority shareholder influence. Overall, it's a neutral-to-slightly-positive signal of strong insider commitment.

Positives

• A significant portion of the company's shares (41.24%) is held by a single individual and their controlled entities, indicating strong insider alignment and potentially stable long-term ownership.
• The Class B shares, which constitute the majority of the beneficial ownership, carry ten votes per share, granting substantial voting control to Chan Choon Yew Lester.

Negatives

• The concentration of significant voting power (due to Class B shares) in a single individual could raise corporate governance concerns regarding minority shareholder influence.

Risks

• Concentrated ownership and voting power in Class B shares could limit the influence of other shareholders on corporate decisions.

Future Outlook

NA

Industry Context

This filing indicates a significant ownership stake by a key individual, which is common in early-stage or founder-led companies. The dual-class share structure with differential voting rights is a mechanism often used to maintain founder control, particularly in technology or growth-oriented companies, allowing them to pursue long-term strategies without immediate pressure from public markets.

Comparison to Industry Standards

• Dual-class share structures, like the one employed by THE GROWHUB LIMITED with Class A (one vote) and Class B (ten votes) shares, are common among companies seeking to maintain founder control, such as Meta Platforms (formerly Facebook), Alphabet (Google), and Berkshire Hathaway.
• Chan Choon Yew Lester's 41.24% beneficial ownership, coupled with the high-voting Class B shares, provides a level of control comparable to that seen in companies where founders or early investors retain significant influence, often exceeding the control afforded by a simple majority of single-vote shares. For example, Mark Zuckerberg holds a majority of Facebook's voting power despite owning less than 20% of its total shares.

Corporate Governance

Related Party Transactions

• Chan Choon Yew Lester's beneficial ownership includes shares held by Initium Novum Capital Pte. Ltd., Vita Nova Ventures Pte. Ltd., and EMJ Capital Holdings Pte. Ltd., all of which are wholly owned by Chan Choon Yew Lester. This indicates a related party structure for the beneficial ownership.
• The subscription for Class B Ordinary Shares by these entities and Chan Choon Yew Lester was in consideration for the transfer of their total shareholdings in GrowHub BVI to THE GROWHUB LIMITED, which is a related party transaction in the context of the company's reorganization.

Stakeholder Impact

• Shareholders: Existing and potential shareholders should be aware of the concentrated voting power held by Chan Choon Yew Lester, which may limit their ability to influence corporate decisions.
• Management: The strong control by Chan Choon Yew Lester provides stability for management's long-term strategic execution.

Key Dates

Recommendation

This filing is a disclosure of a significant beneficial ownership stake by a key individual and his controlled entities. While it confirms strong insider alignment and control, it does not present new operational or financial performance data that would warrant a change in investment thesis. The dual-class structure is a known characteristic for companies seeking to maintain founder control. Investors should hold and monitor future operational and financial reports for performance-driven decisions.

Keywords

THE GROWHUB LIMITED, Chan Choon Yew Lester, Schedule 13G, Beneficial Ownership, Class B Ordinary Shares, Voting Power, Corporate Governance, Singapore, Initium Novum Capital, Vita Nova Ventures, EMJ Capital Holdings