Notable filings
BETWEEN Aug 8 and 12, notable changes in shareholding at companies listed on Bursa Malaysia included Dibena Enterprise Sdn Bhd halving its stake in Datasonic Group Bhd. Dibena Enterprise is the vehicle of Datasonic managing director Datuk Abu Hanifah Noordin
According to filings with Bursa, Dibena Enterprise sold 64 million shares, representing a 4.74% stake in Datasonic, in a direct transaction for RM1.35 apiece or a total of RM86.4 million.
The transaction on Aug 12 was at a 7.86% discount to the day’s average trading price of RM1.4653.
After the deal, Dibena Enterprise still has 75.01 million shares or 5.556% equity interest in Datasonic. The private company held a 10.3% stake in Datasonic as at May 31, according to Datasonic’s 2016 annual report.
On Aug 4, Spritzer Bhd executive chairman Datuk Lim A Heng @ Lim Kok Cheong picked up 250,000 shares in the water and flavoured drinks manufacturer after converting warrants to ordinary shares.
Filings show that Lim exercised the warrants at RM1.18 per share, which represents a 51% discount to the day’s closing price of RM2.43 and a 47.5% discount to its one-year average price of RM2.247.
In fact, Spritzer’s share price has been trading well above RM2 per share since mid-November last year.
After the conversion, Lim now holds a direct 5.492% interest and an indirect 48.538% stake via family members and private vehicles.
At Voir Holdings Bhd, executive director Datuk Lee Chee Hoe bought into the company after picking up 1.15 million shares on Aug 5 amid a takeover offer at the apparel manufacturer.
Incidentally, Lee is the guarantor in the financing of Vista Lestari Sdn Bhd’s takeover bid for Voir. To recap, Vista Lestari had on Feb 29 offered to buy Marvellous Future Sdn Bhd’s controlling stake in Voir for 50 sen per share and 9 sen per warrant, or a total consideration of RM36.47 million.
The 50 sen per share offer price is a 29.6% discount to Voir’s one-month volume-weighted average market price (up to Feb 26, the last trading day before the offer) and a 13.8% discount to Voir’s six-month VWAMP.
On May 16, Vista Lestari’s offer turned unconditional after Vista Lestari and persons acting in concert amassed a 50.71% stake in Voir.
Filings show that Lee, who joined Voir’s board on May 31, bought in at 65 sen per share, a 30% premium to the offer price of 50 sen.
Notable movements
Taiwan national Lu Kuan-Cheng ceased to be a substantial shareholder in Focus Lumber Bhd on Aug 10, after disposing of 90,000 shares on the open market for RM1.75 a piece, near the stock price’s 10-month low of RM1.68 on Aug 4.
Prior to that, Lu had already been selling down his stake in multiple transactions between Aug 4 and 9, disposing of 727,700 shares.
This comes shortly after Focus Lumber announced on Aug 3 that Lu had resigned from the board, where he was executive director, due to “family issues and career planning”. Market data shows that Lu still has a 5.03% stake in the Sabah-based plywood manufacturer.
Meanwhile, hardware and software services firm Omesti Bhd increased its stake in its subsidiary Diversified Gateway Solutions Bhd on Aug 5, two days after the former was classified as a GN3 company.
Omesti had acquired 20.41 million shares, representing a 1.5% stake in Diversified Gateway, when the penny stock’s price had fallen from its one-year high of 9 sen to 4 sen as at Aug 16.
It is not certain how much Omesti paid for the shares, but based on the day’s average trading price of 3.47 sen apiece, the block
could be worth about RM708,227.
Omesti now holds a 54.16% stake in Diversified Gateway, which has core businesses in communications networking systems and services, digital media and SAP enterprise software solutions.
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