KUALA LUMPUR (Sept 8): Cypark Resources Bhd’s co-founder and chief executive officer Datuk Daud Ahmad has increased his stake in the company to 14.7%, after acquiring some 19.8 million shares.

According to a filing with the exchange, Daud acquired the shares on Sept 7 in two tranches of 16.03 million shares and 3.75 million shares, for a total of RM25.94 million or RM1.31 per share.

The acquired shares represent an 8.186% stake in the company.

This brings Daud’s total equity stake in the company to 35.50 million, equivalent to a 14.692% stake in Cypark (fundamental: 1.15; valuation: 2.0).

The shares acquired by Daud were a part of the group’s private placement of up to some 40.98 million new shares, representing up to 20% of its share base, which was approved by its shareholders on May 6, 2015.

Cypark rose 2 sen or 1.36% to RM1.49, bringing its market capitalisation to RM326.1 million.

In the first quarter ended Jan 31, 2015, Cypark’s net profit rose 10% to RM8.53 million, or 4.34 sen per share, from RM7.73 million, or 4.32 sen per share, a year ago. Revenue was up 16% at RM59.92 million from RM51.46 million.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)