SP Setia chief to sell stake to PNB

(From left) SP Setia deputy president and chief operating officer Datuk Voon Tin Yow, SP Setia president and chief operating officer Tan Sri Liew Kee Sin and SP Setia executive vice president Datuk Wong Tuck Wai during the press conference after the topping out ceremony of level 26 of Trigon, a luxury serviced apartment by SP Setia Bhd on Aug 26, 2013. Starpic by Kamarul Ariffin/26.08.2013

PETALING JAYA: SP Setia Bhd’s outgoing president and chief executive officer, Tan Sri Liew Kee Sin, has exercised his option to sell the remaining 67.8 million shares, or a 2.76% stake, he held in the property development company to Permodalan Nasional Bhd (PNB).

In a filing with Bursa Malaysia, SP Setia said it had received a notice from Liew about the exercising of the shares under the put option, dated Jan 20, 2012, requiring PNB to purchase from him 67.8 million shares or three seventh of the shares he held then.