KUALA LUMPUR (May 5): Versatile Creative Bhd said a major shareholder has entered into an agreement to dispose of eight million shares in the group to a third party at a negotiated price of 60 sen per share.

In a reply to Bursa Malaysia's unusual market activity (UMA) query, Versatile said a deposit equivalent to 10% of the transaction value was received by the vendor of the shares, with the balance sum payable within 30 days of the agreement date.

Versatile added that it would make the appropriate announcement "as and when further information of the share sale transaction comes to the knowledge of the board".

Earlier today, Versatile, offering services that range from printing to media digital transmission, was slapped with an UMA query when its shares surged to an intraday high of RM1.05, up 28.5 sen, clocking a five-year high record.

At closing, Versatile shares climbed 19.5 sen or 25.49% to settle at 96 sen with 366,600 shares done, valuing it at RM112.6 million. Year to date, the counter has grown 30.6%.