Hextar Global Bhd executive vice chairman Dato’ Ong Soon Ho’s indirect shareholding in the company has declined following the disposal of 13.89 million shares by Dato’ Ong Choo Meng for a total consideration of approximately RM10 million.
Hextar Global said Ong Choo Meng disposed of 5.55 million shares on Sept 23 for RM3.996 million, followed by another 8.34 million shares on Sept 24 for RM6.004 million.
Both transactions were carried out through direct business transactions at an implied price of 72 sen per share.
The shares were held under a pledged securities account with Phillip Nominees (Tempatan) Sdn Bhd in the name of Ong Choo Meng.
Following the disposals, Ong Soon Ho’s indirect or deemed interest in Extar Global stood at 2.15 billion shares, representing 54.886% of the company’s issued share capital.
Dato’ Ong is the father of Dato’ Ong Choo Meng and a directors and shareholder of the Company’s substantial shareholder, Hextar Holdings Sdn Bhd. Save as disclosed, he has no family relationship with any Director and/or major shareholder of the Group and has no business or other relationship which could materially pose a conflict of interest or interfere with the exercise of his judgement when acting in the capacity of a Director of Hextar which would be disadvantageous to the Group.
