Notable Trade Tey and Ooi sells shares in Nexgram

by **Cals** Wed 12 Nov 2014, 03:04

Notable Trade
Tey and Ooi sells shares in Nexgram

By Gho Chee Yuan / TheEdge Markets.com | November 11, 2014 : 9:39 PM MYT

KUALA LUMPUR (Nov 11): Nexgram Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s Chief Executive Officer and Managing Director Tey Por Yee and his counterpart Ooi Kock Aun, are trimming their stakes in the company.

The duo are grabing the news headlines, as they are embroiled in a shareholder tussle in Protasco Bhd ([You must be registered and logged in to see this image.]Financial Dashboard).

The latest filings to Bursa Malaysia shows that Tey sold 7.3 million shares or 0.4% stake in the company.

Nexgram said Tey had disposed some five million and 2.3 million shares, through two separate transactions on Nov 7 and Nov 10 respectively.

After the disposal, Tey still controls 15.71% equity stake or 295.83 million shares in Nexgram. He is also deemed interested for 160.06 million or 8.5% stake in the company, through Smart Tower Sdn. Bhd. which he has 15% direct interest in.

In a separate filing, another Nexgram's substantial shareholder Ooi has sold some 97.03 million share or 5.16% stake in several transactions, since end of last month (October).

The most recent transaction took place on Nov 6 (last Thursday), when Ooi had disposed shares amounting to 9.95 million. After the disposal, Ooi's shareholding had reduced to 8.92% or 167.94 million shares, from about 14% previously.
[size=14]Nexgram's share price fell 0.5 sen to close at 9.5 sen today, giving it a market capitalization of RM178.86 million [/size]