Macpie says largest shareholder has exited company in response to UMA query

 

KUALA LUMPUR (Sept 14): Macpie Bhd, which has been queried by Bursa Malaysia today following a recent spike in its share price, says its largest shareholder has exited the company after disposing of a 24.54% stake in the company on Friday (Sept 11).

In a stock exchange filing, the information technology services company said it has received notifications from its executive director Ng Chee Heng and the latter's private vehicle SEG Capital Intelligence Sdn Bhd that SEG Capital has disposed of 86.71 million Macpie shares via the open market.

The shares were disposed of at 33 sen apiece, which meant a total of RM28.61 million, Macpie noted in a separate filing.

Other than that, it said it is not aware of any other corporate development, rumour, report or any other possible explanation that could account for the UMA.

Macpie was the 19th most actively-traded counter on the local bourse today. The stock finished 21.43% or nine sen higher at 51 sen today, giving it a market capitalisation of RM180.18 million. The stock, which was trading at 10 sen per share in early August, has jumped 410% since.

http://www.theedgemarkets.com/article/macpie-says-largest-shareholder-has-exited-company-response-uma-query