Tadmax CEO emerges as second largest shareholder

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KUALA LUMPUR: Following the listing of 72 million settlement shares today, Tadmax Resources Bhd Managing Director and Group CEO Datuk Faizal Abdullah has emerged as the company’s second largest shareholder by owning a total of 20.17% equity interest or 89.8 million shares in Tadmax.

According to several filings with Bursa Malaysia today, Faizal’s equity interest in Tadmax had increased to 20.17% on Nov 3 after the issuance of 72 million shares priced at 50 sen per settlement share as partial settlement of debt from the company.

Notably, the 72 million debt settlement shares are equivalent to 15.74% equity interest in the company.

According to its 2013 annual report, Faizal previously owned direct interest of 4.78% or 17.8 million shares in the company. The largest shareholder is Annuar Adam holding an equity stake of 29.32% stake.

Tadmax’s counter has dipped 2.5% to 39 sen today, giving it a market capitalisation of RM173.46 million.