Notable Trade Bumi Armada former chairman ceases to be substantial shareholder

by **Cals** Fri 03 Jul 2015, 01:41

Notable Trade
Bumi Armada former chairman ceases to be substantial shareholder

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By Supriya Surendran / theedgemarkets.com | July 2, 2015 : 7:41 PM MYT

KUALA LUMPUR (July 2): Datuk Sri Mahamad Fathil Datuk Mahmood, the former chairman of [size=14]Bumi Armada Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) has ceased to be a substantial shareholder in the floating production, storage and offloading (FPSO) player.

In a filing with Bursa Malaysia today, it was revealed that Mahamad Fathil, who resigned as chairman of Bumi Armada in June 2014, ceased to be a substantial shareholder in the company on June 30 this year after he disposed of 414.6 million shares representing a 7.07% stake in the company via Ombak Damai Sdn Bhd.

“Mahamad Fathil ceased to be a substantial shareholder of Bumi Armada by virtue of the disposal by him of all of his direct interest in Ombak Damai, by virtue of which he has ceased to have any deemed interest in Bumi Armada held by Ombak Damai,” said Bumi Armada in its announcement today.

Bumi Armada (fundamental: 1.05; valuation: 0.8) shares closed down 1 sen, or 0.84% today at RM1.18 with a market capitalisation of RM6.92 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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