Censof’s MD pares down stake

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KUALA LUMPUR (Nov 28): Financial software provider Censof Holdings Bhd saw it’s Group Managing Director Datuk Samsul Husin and Executive Director Ameer Shaik Mydin, selling off 2.3% equity stake held through SAAS Global Sdn Bhd (SAAS Global) on the open market.

In its filing to Bursa Malaysia today, the duo had disposed 5.4 million shares (at 29.8 sen) and 5 million shares (at 26.7 sen), on Nov 26 and Nov 27 respectively.

The share sales has trimmed SAAS Global’s shareholding to 30.14% stake or 33.58 million shares in Censof.

Censof also owns 39.23% interest in Dagang Nexchange Bhd (DNB), in which Samsul is the executive deputy chairman.

Censof had earlier this month, proposed to undertake a private placement to fund subscription of DNB’s rights shares within four months.      

The private placement of up to 10% of its issued and paid-up share capital, will cater to third party investor(s) to be identified, and at an issue price to be determined later.

The corporate exercise is to raise up to RM41.63 million.

Censof’s share price has been under pressure since early November, declining 22% from 60.5 sen to 47 sen today, giving it a market capitalisation of RM212.28 million.

DNB’s counter on the other hand, fell 23.7% from 38 sen in early this month, to 29 sen today. The stock dropped one sen or 3.3%, with 10.3 million shares traded today. Its market capitalisation was at RM224.82 million.