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Morning Crest ceases to be E&O substantial shareholder after selling 11.59% stake

KUALA LUMPUR (Sept 5): Morning Crest Sdn Bhd has ceased to be a substantial shareholder in Eastern & Oriental Bhd (E&O) after selling 18.05 million shares or a 11.59% stake in the premier lifestyle property developer.
Morning Crest, controlled by E&O former executive deputy chairman and managing director Datuk Terry Tham Ka Hon, disposed of the shares via a direct business transaction on Sept 1, according to a bourse filing.
Following the transaction, Morning Crest’s stake in E&O is down to 3.9% or 60.8 million shares, from 5.06% or 78.84 million shares, according to Bloomberg data.
Billford Holdings Ltd, which owned an indirect stake in E&O via Morning Crest, has also ceased to be a substantial shareholder of the group. Nonetheless, it still has a 0.46% direct stake or 7.17 million shares in the group.
Tham, meanwhile, is now left with a 0.86% direct stake or 13.35 million shares in the group, and an indirect stake of 4.36% or 67.97 million shares.
The price at which the block of shares was disposed of was not disclosed, but based on the closing price of 63 sen on Sept 1, the shares would be worth about RM11.37 million.

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Source: EdgeProp.my

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