Abdul Rahman sells 9.85% stakes in GBH

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KUALA LUMPUR (Oct 24): Datuk Abdul Rahman Mohamed Shariff, who terminated an asset injection exercise in Goh Ban Huat Bhd (GBH), has sold some 18.3 million shares or 9.85% equity stake in the ceramic ware manufacturer, through direct off market deal last Friday (Oct 17).

Abdul Rahman, the managing director and 99.8% owner of oil and gas service company Dynac Sdn Bhd, has ceased to be the substantial shareholder in GBH.

Abdul Rahman had initially signed a Memorandum of Understanding with GBH to undergo a reverse takeover (RTO) in July. However, the plan was aborted in September.

Abdul Rahman acquired the block of shares on July 7, to pave way for the RTO exercise.

GBH closed at RM1.55 today, with a market capitalization of RM288.16 million.