MQTECH (0070) - MQ Technology Bhd substantial shareholder sold 17,000,000 shares. Why the rush in selling? - BursaTK

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21 December 2017 - MQ Technology Bhd (Bursa 0070: MQ Tech) today announced the disposal of shares by substantial shareholder Teh Eng Huat on 20 December 2017, amount to 17,000,000 shares through Kenaga Nominees (Tempatan) Sdn Bhd. According to Bursa Malaysia, Teh Eng Huat still has 22,000,000 MQ Tech shares, or close to 5.304%
MQ Tech saw unusual activities in share price range from RM0.065 - RM0.09, and close at RM0.75, with 94,213,300 share traded. The pattern of turbulance is not unusual, as if it's churned to attract public investors attention to trade the shares. The market is looking for more signals if substantial shareholders are still selling the shares in next few trading days. Share price soften to close at RM0.065 on 21 December 2017 (the next day), with less than 10 million shares traded.
Bursa Tracker

source Bursa: http://www.bursamalaysia.com/market/listed-companies/company-announcements/5644441

Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

MQ TECHNOLOGY BERHAD

Particulars of substantial Securities Holder

Name MR TEH ENG HUAT
Nationality/Country of incorporation Malaysia
Descriptions (Class) Ordinary Shares

Details of changes

No Date of change
No of securities
Type of Transaction Nature of Interest
1 20 Dec 2017
17,000,000
Disposed Direct Interest
Name of registered holder KENANGA NOMINEES (TEMPATAN) SDN. BHD.
Address of registered holder 8th Floor Kenanga International Jalan Sultan Ismail 50250 Kuala Lumpur Wilayah Persekutuan 
Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred Open Market Disposal
Nature of interest Direct Interest
Direct (units) 22,000,000
Direct (%) 5.304
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Total no of securities after change 22,000,000
Date of notice 21 Dec 2017
Date notice received by Listed Issuer 21 Dec 2017


Remarks :
Securities held after the change:
a) 22,000,000 Ordinary Shares (5.304% of issued shares)
b) 2,680,088 (1.460% of the total Warrants in issued).


Announcement Info

Company Name MQ TECHNOLOGY BERHAD
Stock Name  MQTECH
Date Announced 21 Dec 2017
Category Change in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016
Reference Number CS2-21122017-00002





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