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NewsCAP major shareholder sells 108 million shares
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CAP major shareholder sells 108 million shares
by Cals Fri 18 Apr 2014, 02:24
| CAP major shareholder sells 108 million shares |
| Business & Markets 2014 |
| Written by Levina Lim of theedgemalaysia.com |
| Thursday, 17 April 2014 10:01 |
KUALA LUMPUR: Ong Tuan Jee, director and substantial shareholder of China Automobile Parts Holdings Ltd (CAP), has disposed of 108 million shares for RM37.8 million.
Prior to the disposal, three directors of the company — Ong, Guo Qing and Wang Yu Yun — had announced their intention to deal in the securities of CAP during the closed period before the announcement of the company’s results for the quarter ended March 31.
A filing with Bursa Malaysia yesterday showed that the 108 million shares disposed of by Ong were sold in two blocks of 60 million and 48 million shares respectively, at 35 sen apiece. They represent 10% and 8% respectively of the total shares in CAP owned by its substantial shareholder, China Automobile Parts (BVI) Co Ltd (CAPCL), which were disposed of on the open market last Friday.
The shares were indirectly held by Ong via Cartaban Nominees Sdn Bhd and M&A Nominees Sdn Bhd. Following the transactions, Ong now holds an indirect stake of 36.38% or 218.25 million shares in CAP. He also has 98.57 million warrants, or an indirect interest of 32.86%.
In a separate filing, CAP said Cayman Island-based Bridge Global Growth Fund has acquired 60 million CAP shares for the fund’s portfolio investment. CAP shares closed one sen lower at 34 sen yesterday.
This article first appeared in The Edge Financial Daily, on April 17, 2014.
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