KUALA LUMPUR (April 8): Newly appointed Datasonic Group Bhd executive director Safian Mohd Yunus has ceased to be a substantial shareholder in the company after just one month following a recent private placement exercise.

Concurrently, the private placement of 262 million shares or 8.8% of Datasonic’s enlarged share capital also resulted in Titian Tegap Sdn Bhd ceasing to be a substantial shareholder in Datasonic, less than five months after its emergence on the list.

Safian’s indirect interest was partly held through Hallmark Epitome Sdn Bhd — previously the private vehicle of Datasonic’s former deputy managing director, Chew Ben Ben.

The exposure was after Safian acquired 30 million shares in Hallmark on March 8.

Titian Tegap, meanwhile, is the investment vehicle of Anuar Yusoff and Muhamad Ridzuan Sumery @ Alwi. The company first emerged as a substantial shareholder in Datasonic on Dec 17, 2020, with a 5.08% stake.

It is unclear who will emerge as a new substantial shareholder in the company. Datasonic’s private placement of the 262 million shares were done at 48.2 sen apiece, raising RM126.28 million.

Shares of Datasonic fell 3 sen or 4.8% to close at 59.5 sen on Thursday, valuing the group at RM1.59 billion.