Daud Ahmad ceases to be Cypark's substantial shareholder

KUALA LUMPUR: Cypark Resources Bhd co-founder and chief executive officer Datuk Daud Ahmad has ceased to be a substantial shareholder of the renewable energy company.

In a filing with Bursa Malaysia, Cypark said Daud disposed of six million shares valued at RM5.4mil on Sept 19.

Following the disposal, Daud now has a 4.88% stake or 38.3 million shares in Cypark.

On Tuesday, Cypark announced the emergence of a new substantial shareholder in Chung Dao, who has a 5.5% stake or 42.97 million shares after acquiring 40 million shares on Sept 14.