KUALA LUMPUR: Tan Sri Tan King Tai, who recently gained a substantial stake in EKA Noodles Bhd, has ceased to be a substantial shareholder of electrical and electronic appliance manufacturer Pensonic Holdings Bhd
.
In a filing with Bursa Malaysia, the company said Tan, who is a Pensonic executive director, sold his direct shareholding comprising 3.61 million shares or 2.783% of Pensonic’s issued share capital for RM2.24mil. (He sold at prices of 61.24 sen and 63.0 sen per share.)
The disposal reduced his stake to 2.477%, comprising 1.708% direct and 0.768% indirect stakes.
In December, Tan had disposed of 1.28 million shares for 67.9 sen each.
Tan, 62, was appointed as Pensonic executive director in September 1995. He became a substantial shareholder four years ago.
He is also executive chairman of furniture maker SWS Capital Bhd and executive director/finance director of oil seed crushing machinery producer Muar Ban Lee Group Bhd.
Tan recently became the chairman of EKA Noodles Bhd, where he surfaced as a substantial shareholder with 19.65% deemed interest in May.
Earlier, in March, he resigned as director of Denko Industrial Corp Bhd following Oregon Technology Sdn Bhd’s takeover of the tool fabrication and plastic manufacturing firm.
Pensonic shares closed unchanged at 61 sen on Monday with 1.955 million shares changing hands.
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