KUALA LUMPUR (Aug 14): Multimedia solutions provider The Media Shoppe Bhd (TMS) announced that its chief executive officer (CEO) Christopher Chan Hooi Guan has resigned, effective today.

In a filing with the bourse, the company said Chan had stepped down to devote more time on the operations at the subsidiary level.

It is noted that Chan had recently ceased to be a substantial shareholder in the company, following the disposal of 66 million shares or a 7.58% stake in the company.

Chan and another shareholder Lee Chi Yeng have both disposed of their shareholdings in the company via the disposal of their stakes in Master Knowledge Sdn Bhd, which is the single largest shareholder of TMS.

Meanwhile, in a separate filing, Master Knowledge has acquired a further 59.35 million shares in TMS (fundamental: 1.85; valuation: 0.9).

The shares were acquired via an off-market trade today, bringing its total holdings in the company to 92.35 million shares, which represent an equity interest of 21.226%.

TMS’s counter closed half sen or 3.57% lower at 13.5 sen today, for a market capitalisation of RM59 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)