KUALA LUMPUR: Shares of embattled Kenmark Industrial Co (M) Bhd came under pressure on Tuesday, June 15 after Datuk Ishak Ismail ceased to be a substantial shareholder of the company.
At 9.37am, Kenmark fell 2.5 sen to 10.5 sen with 11.86 million shares traded.
In a statement to Bursa Malaysia Securities on Monday, Kenmark said Ishak on June 9 had disposed a total of 58.69 million Kenmark shares, representing a 32.29% stake in the company.
Ishak's equity in Kenmark was held under British Virgin Islands-registered Unioncity Enterprises Ltd, which hived off some 27.69 million shares or 15.53% in the company, and the remainder via BHLB Trustee Bhd for a discretionary trust for his family.
At 9.37am, Kenmark fell 2.5 sen to 10.5 sen with 11.86 million shares traded.
In a statement to Bursa Malaysia Securities on Monday, Kenmark said Ishak on June 9 had disposed a total of 58.69 million Kenmark shares, representing a 32.29% stake in the company.
Ishak's equity in Kenmark was held under British Virgin Islands-registered Unioncity Enterprises Ltd, which hived off some 27.69 million shares or 15.53% in the company, and the remainder via BHLB Trustee Bhd for a discretionary trust for his family.
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