KUALA LUMPUR (March 27): Supercomnet Technologies Bhd, whose share price fell on Tuesday after surging on Monday, stated Mohd Nazifuddin Mohd Najib was not taking up the option to purchase an 18.66% stake in the company.
The company said on Tuesday that it had received a letter the same day from Nazifuddin “indicating that he will not be pursuing the option to purchase the 18.66% stake in the company as stated in the option letter”.
Supercomnet’s share price closed 13.5 sen down to 36 sen with 79.14 million units done on Tuesday, giving up nearly two-thirds of Monday’s gains when it surged 19.5 sen to 49.5 sen.
The company, in response to a Bursa Malaysia Securities query on Monday, said its major shareholder and director Wu Chung-Jung had entered into an agreement with Nazifuddin on March 25.
Wu, who was acting on behalf of several shareholders, had signed the agreement to give Nazifuddin an option to purchase 45.35 million shares of 10 sen each at 22.5 sen, representing 18.66% of the paid-up.
However, after market close on Tuesday, Nazifuddin stated he would not go ahead with the option to purchase the stake.
The company said on Tuesday that it had received a letter the same day from Nazifuddin “indicating that he will not be pursuing the option to purchase the 18.66% stake in the company as stated in the option letter”.
Supercomnet’s share price closed 13.5 sen down to 36 sen with 79.14 million units done on Tuesday, giving up nearly two-thirds of Monday’s gains when it surged 19.5 sen to 49.5 sen.
The company, in response to a Bursa Malaysia Securities query on Monday, said its major shareholder and director Wu Chung-Jung had entered into an agreement with Nazifuddin on March 25.
Wu, who was acting on behalf of several shareholders, had signed the agreement to give Nazifuddin an option to purchase 45.35 million shares of 10 sen each at 22.5 sen, representing 18.66% of the paid-up.
However, after market close on Tuesday, Nazifuddin stated he would not go ahead with the option to purchase the stake.
