KUALA LUMPUR: S P Setia Bhd has confirmed its former president and chief executive officer (CEO) Tan Sri Liew Kee Sin had disposed of his 67.79 million shares in the property company.
SP Setia said on Wednesday Liew had transferred the shares, representing a 2.75% stake, to Permodalan Nasional Bhd on Tuesday.
The transfer of the shares at RM3.95 each was pursuant to the exercise of three seventh of the S P Setia shares under the put option in the management agreement dated Jan 20, 2012.
StarBiz reported the block of shares was transferred at RM3.95 at midday on Tuesday, which was RM1.03 above the market price of RM2.92 then.
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