KUALA LUMPUR (Dec 31): Datasonic Group Bhd's managing director Datuk Abu Hanifah Noordin has ceased to be a substantial shareholder today, after selling off his remaining 4.96% stake in the group.

According to Bloomberg, some 71.92 million shares or a cumulative 5.33% stake was traded in two off-market trades between 3.03pm and 4.37pm today.

One block of 66.92 million shares was sold for RM43.50 million or 65 sen per share — a discount of 58% to Datasonic's closing price of RM1.48 today. Another block of 5 million shares crossed for some RM7.40 million or RM1.48 per share.

Datasonic's bourse filings showed Abu had sold his remaining 66.92 million shares in the group via a direct business transaction to Datuk Razali Mohd Yusof, a director with Marine & General Bhd.

This now brings Razali's direct interest in Datasonic to 4.96%. Razali, who was appointed the group's deputy president on Dec 13, also has a 3.90% indirect interest in Datasonic via Demi Mekar Sdn Bhd.

Earlier this month, Abu sold a 13.81% stake in Datasonic via a series of off-market trades, which were also disposed of at 65 sen apiece. The latest transaction leaves Abu with an indirect 0.673% stake in Datasonic.

Meanwhile, Datasonic deputy managing director Chew Ben Ben has transferred the 5 million shares he held via his private vehicle Enrich Epitome Sdn Bhd, to his pledged securities account at Kenanga Nominees (Tempatan) Sdn Bhd.

Chew controls a direct interest of 14.405% in Datasonic and an indirect interest of 13.579%, held via Enrich Epitome, Hallmark Epitome Sdn Bhd and his spouse Zhao Tong.

Datasonic shares closed 2.07% or three sen higher at RM1.48 today, giving it a market capitalisation of RM1.998 billion. The counter saw 27.13 million shares traded.