UK fund ceases to be Media Prima substantial shareholder

Syed Mokhtar is the single largest shareholder in the media group with a 16.05% stake.

KUALA LUMPUR: Media Prima Bhd, which has been in the news recently about tycoon Tan Sri Syed Mokhtar Albukhary raising his stake, saw UK fund Edgbaston Investment Partners LLP disposing of 4.44 million shares.

A filing with Bursa Malaysia on Friday showed the Edgbaston Asian Equity Trust disposed of 3.46 million shares and the Edgbaston Asian Equity (Jersey) Trust sold 976,800 shares. 

The disposal of the shares reduced its shareholding to 5.236 million shares or 4.98%.

Edgbaston Investment Partners acts as the discretionary investment manager for the Edgbaston Asian Equity Trust and the Edgbaston Asian Equity (Jersey) Trust.

StarBiz reported Syed Mokhtar had acquired an additional 55 million shares or a 4.96% stake last week.

The acquisition, done via a direct business transaction at 60 sen per share for RM33mil, has made the tycoon the single largest shareholder in the media group with a 16.05% stake.

On July 2, Syed Mokhtar’s privately held vehicle, Aurora Mulia, bought a block of 123 million shares held by Gabungan Kesturi Sdn Bhd – a trust company for Umno.