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NewsFormis Holdings sells 12.5m Microlink shares
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Formis Holdings sells 12.5m Microlink shares
by Cals Thu 29 Aug 2013, 01:18
Published: Wednesday August 28, 2013 MYT 2:17:00 PM
Updated: Wednesday August 28, 2013 MYT 2:18:36 PM
Formis Holdings sells 12.5m Microlink shares
KUALA LUMPUR: Formis Resources Bhd's unit Formis Holdings Bhd sold 12.5 million shares of Microlink Solutions Bhd in a move to rectify the shortfall in the public spread.
Formis Resources said on Wednesday that Formis Holdings had sold 12.5 million Mircolink shares at 55 sen each to third party individual investors the previous day.
"The divestment would be the first initiative undertaken by Formis Holdings to rectify the shortfall in the public spread requirement of Microlink," it said.
The divestment was necessary as of Monday, Formis Holdings owned 97.83% of Microlink and this saw the public shareholding spread at 2.12%.
Bursa Malaysia Securities Bhd requires Microlink to ensure that at least 25% of its total listed shares are in the hands of public shareholders.
Updated: Wednesday August 28, 2013 MYT 2:18:36 PM
Formis Holdings sells 12.5m Microlink shares
KUALA LUMPUR: Formis Resources Bhd's unit Formis Holdings Bhd sold 12.5 million shares of Microlink Solutions Bhd in a move to rectify the shortfall in the public spread.
Formis Resources said on Wednesday that Formis Holdings had sold 12.5 million Mircolink shares at 55 sen each to third party individual investors the previous day.
"The divestment would be the first initiative undertaken by Formis Holdings to rectify the shortfall in the public spread requirement of Microlink," it said.
The divestment was necessary as of Monday, Formis Holdings owned 97.83% of Microlink and this saw the public shareholding spread at 2.12%.
Bursa Malaysia Securities Bhd requires Microlink to ensure that at least 25% of its total listed shares are in the hands of public shareholders.
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