KUALA LUMPUR (July 22): The Employees Provident Fund (EPF) has ceased to be a substantial shareholder of MyNews Holdings Bhd, the retailer notified on Friday (July 22).

This came after a 1.75 million-share offloading which slashed the pension fund’s stake in MyNews to 4.93% or 33.65 million shares.
 
The EPF began trimming its stake in MyNews on Oct 6 last year with a disposal of 45,300 shares, which pared its shareholding to 45.36 million or a 6.65% stake.

The fund’s shareholding in MyNews dropped to 35.4 million shares or 5.19% on July 18, after it sold 540,000 shares, according to a filing on Thursday.
 
Since Oct 6 last year, the EPF has registered a net sale of 11.76 million shares (11.82 million disposed and 56,700 acquired).

On Friday, shares in MyNews finished half a sen or 1.33% higher at 38 sen, giving the group a market capitalisation of RM255.81 million.  

The retailer’s share price has fallen 54.49% year-to-date.