Gabungan AQRS CEO ups stake in majority shareholder

KUALA LUMPUR (Aug 22): Gabungan AQRS Bhd executive director and group chief executive officer (CEO) Datuk Azizan Jaafar has upped his stake in Ganjaran Gembira Sdn Bhd — a private investment vehicle which owns a 13.32% stake in Gabungan AQRS.

A filing with Bursa Malaysia showed that Gabungan AQRS’ executive director and group deputy CEO Datuk Ow Chee Cheoon yesterday disposed of 52 million shares or a 12.11% stake in Ganjaran Gembira to Azizan during the closed period. The disposal price was not disclosed.

As a result, Ow has ceased to have a deemed relevant interest in Gabungan AQRS shares held through Ganjaran Gembira. Ow, however, still holds a direct 7.64% stake or 32.8 million shares in Gabungan AQRS.

Gabungan AQRS shares closed down five sen or 2.94% at RM1.65 per share yesterday, with 794,200 shares traded, bringing a market capitalisation of RM708.55 million.

This article first appeared in The Edge Financial Daily, on Aug 22, 2017.

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