Rozabil ceases to be substantial shareholder in Iris Corp

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KUALA LUMPUR (Jan 23): Datuk Rozabil @ Rozamujib Abdul Rahman, executive director of Iris Corp Bhd, has ceased to be a substantial shareholder of Iris, after disposing of 49.4 million shares via his private investment vehicle Caprice Development Sdn Bhd for RM6.92 million or 14 sen per share.

Iris' filing with Bursa Malaysia today showed that Rozabil sold the block of shares via a direct business transaction on Jan 18.

This leaves Rozabil with a 4.275% stake in the group following the disposal.

A separate filing revealed that Iris president and group managing director Datuk Paul Poh Yang Hong, who is also deemed interested in Caprice, was a net seller of 49.4 million shares on Jan 18, while indirectly buying the same block of shares via OrientalGold Equity Sdn Bhd. With the latest acquisition, Paul now holds a 14.713% stake in Iris.

OrientalGold is linked to Paul and his father and Iris non-executive director Dr Poh Soon Sim.

Iris shares closed down 0.5 sen or 3.33% at 14.5 sen today, with 50.72 million shares done, bringing a market capitalisation of RM430.11 million.