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Notable Trades Tengku Uzir raises stake in WZ Satu to 23.96%
by Cals Tue 04 Nov 2014, 01:29
Notable Trades
Tengku Uzir raises stake in WZ Satu to 23.96%
KUALA LUMPUR (Nov 3): Tengku Datuk Uzir Tengku Datuk Ubaidilah, who is the chairman of WZ Satu Bhd ([You must be registered and logged in to see this image.]Financial Dashboard), has increased his equity stake in the company, which intends to venture into the oil and gas industry, to 23.96% from 23.12%.
A filing with Bursa Malaysia today revealed that Uzir had acquired an additional two million shares in the company at a price of RM2.40 per share, resulting in a total purchase consideration of RM4.8 million.
The acquisition, which was an off market transaction, has resulted in Uzir’s total shareholdings in the company now standing at 57.15 million shares, representing a 23.96% substantial interest.
WZ Satu made its maiden foray into the oil and gas business after it acquired Misi Setia Oil and Gas Sdn Bhd in July for RM27 million from Datuk Lim Kim Chong, Nor Zahid Mohd Hashim,Teoh Chee Yoong, Chong Kim Tham and Mohd Aris Mohd Arif.
The company’s initial core business is manufacturing and trading of precision cold drown steel bars
Its share price closed down seven sen today, giving it a market capitalization of RM540.4 million.
Tengku Uzir raises stake in WZ Satu to 23.96%
KUALA LUMPUR (Nov 3): Tengku Datuk Uzir Tengku Datuk Ubaidilah, who is the chairman of WZ Satu Bhd ([You must be registered and logged in to see this image.]Financial Dashboard), has increased his equity stake in the company, which intends to venture into the oil and gas industry, to 23.96% from 23.12%.
A filing with Bursa Malaysia today revealed that Uzir had acquired an additional two million shares in the company at a price of RM2.40 per share, resulting in a total purchase consideration of RM4.8 million.
The acquisition, which was an off market transaction, has resulted in Uzir’s total shareholdings in the company now standing at 57.15 million shares, representing a 23.96% substantial interest.
WZ Satu made its maiden foray into the oil and gas business after it acquired Misi Setia Oil and Gas Sdn Bhd in July for RM27 million from Datuk Lim Kim Chong, Nor Zahid Mohd Hashim,Teoh Chee Yoong, Chong Kim Tham and Mohd Aris Mohd Arif.
The company’s initial core business is manufacturing and trading of precision cold drown steel bars
Its share price closed down seven sen today, giving it a market capitalization of RM540.4 million.
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