Tomypak directors to sell 25.48% stake at RM1.30 per share

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KUALA LUMPUR (Oct 1): Plastic packaging materials manufacturer Tomypak Holdings Bhd announced that two of its directors, Chow Wen Chye and Teng Chew Guat, have entered into a share sale agreement to dispose of a combined 25.48% stake in the company to New Orient Resources Sdn Bhd.

Both Chow and Teng will be disposing 6.59 million shares (6.02% stake) and 21.3 million shares (19.48% stake) in Tomypak respectively, at RM1.30 per share.

Tomypak added the completion of the sale and purchase will take place on Oct 15, or at any other time as may be mutually agreed.

“The company will make further announcement to the exchange, upon the receipt of further notification by the above mentioned parties,” it added.

Shares in Tomypak remained flat at RM1.30 today, with market capitalisation of RM142.14 million.