Leweko Resources ED Abdul Aziz trims stake in company

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KUALA LUMPUR (Sept 14): Leweko Resources Bhd's executive director, Abdul Aziz Jantan, has disposed of 20 million shares in the company, representing a 6.21% stake, via an off-market transaction.

This leaves Abdul Aziz, Leweko Resources' second largest shareholder, with 74.7 million shares or 23.22% in the company, from 94.7 million shares or 29.43% previously.

According to Bloomberg data, the deal was done in a single tranche at 5 sen per share, which is about 56.5% cheaper than Leweko's market price of 11.5 sen.

While 20 million shares were traded off market, only about 117,600 shares changed hands in the market today, compared to the stock's 200-day average volume of 279,803 shares.

The largest shareholder in Leweko is its managing director, Datuk Leong Wei Kong, who holds about 30.86% stake in the company.

The company has been loss making since its financial year 2014.

Year to date, Leweko's share price has declined by 11.54%. Compared to 12 months ago, it has lost 14.81% to close at 11.5 sen today, which gives it a market capitalisation of RM37.02 million.