KUALA LUMPUR (Sept 5): In a rare move, Sanichi Technology Bhd announced that Cita Realiti Sdn Bhd had ceased to be a substantial shareholder in Sanichi after more than three months since the cessation took place in May 2021.

Plastic injection mould manufacturer Sanichi said on Friday (Sept 3) in a Bursa Malaysia filing that Cita Realiti ceased to be a substantial shareholder in Sanichi on May 20, 2021, after Cita Realiti disposed of 26.97 million Sanichi shares on the open market.

The 26.97 million shares represent a 6.94% stake in Sanichi, which has 388.72 million issued shares following the completion of the company’s consolidation of 10 existing shares into one share in April 2021, according to Sanichi.

Prior to the sale of the 26.97 million shares, Cita Realiti’s stake in Sanichi stood at 9.33% comprising 36.26 million shares on May 12, 2021, according to Sanichi’s Bursa filing on May 17, 2021.

On Friday, Sanichi’s share price closed up one sen or 33.33% at four sen for a market value of about RM15.55 million.

Sanichi’s share price had fallen to current levels from its closing price of 35 sen on May 17, 2021.

On May 25, 2021, Bursa had issued an unusual market activity (UMA) query on the sharp fall in Sanichi’s share price.

Sanichi responded in a Bursa filing on the same day (May 25, 2021) that the company was unaware of any rumour or report that might have led to the UMA.