Friday 29 Mar 2024
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KUALA LUMPUR (Nov 28): Bumi Armada Bhd's chief executive officer, Hassan Assad Basma further pares down his stake in the oil and gas services provider, as its share price fell to an all-time low of RM1.15 today.

A filing with Bursa Malaysia today showed that Hassan sold 220,000 Bumi Armada shares at RM1.361 per share on Wednesday and another 40,000 shares in the company at RM1.175 per share today.

After the latest sale of shares - via the open market - Hassan has a remaining 2.74 million shares in Bumi Armada or a direct interest of 0.04% equity stake in the company.

Prior to this, Hassan sold 1.0781 million shares on Nov 24 at RM1.395 per share and 431,900 shares on Nov 21 at RM1.36 per share.

In mid-October, he had sold off some 5.5 milion shares after the company's bonus issue. He disposed of 2.5 million shares at RM1.436 per share, and three million shares at RM1.40 per share then.

The all-time low of RM1.15 today was 13 sen or 10.16% lower from yesterday's closing, giving it a market capitalisation of RM6.75 billion. The counter has slid by more than a third from the year's high of RM4 in early January.

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