NICE (7139) - Niche Capital Emas sees 5.19% stake cross off-market
April 21, 2015 : 8:54 PM MYT
KUALA LUMPUR (April 21): Niche Capital Emas Holdings Bhd , which is in the business of manufacturing, distribution and retail of gold jewelry and ornament, saw some 12.1 million shares or 5.19% equity stake crossed off-market today .
According to Bloomberg data, the chunk of shares in Niche Capital (fundamental: 0.75; valuation: 0) were transacted at 10.5 sen per share or RM1.27 million in total.
However, parties involved in the transaction are not known at the press time.
Major shareholders of the Practice Note 1 (PN1) company include Julian Foo Kuah Lin with a direct interest of 31.71%, RHB Bank Bhd with 27.8% direct interest, Pang Ling with 8.84% stake, CIMB Bank Bhd with 7.29% stake and United Overseas Bank (M) Bhd with 5.19% stake, according to Bursa Malaysia.
To recap, Niche fell into PN1 status after its former subsidiary Yikon Jewellery Industry Sdn Bhd defaulted on the repayment of its loans to AmBank (M) Bhd, United Overseas Bank Malaysia Bhd (UOB), RHB Bank Bhd and CIMB Bank Bhd.
The total outstanding amount was RM16.59 million or more than 5% of its net assets. Yikon Jewellery said it did not have sufficient funds to make the scheduled instalment. Niche was the loan's guarantor.
Subsequently, Niche settled part of the debt with RM1.01 million cash and an issuance of 115.13 million shares at 10 sen apiece for a total RM115.13 million, which represents 49.39% of its enlarged issued and paid-up capital.
Last Wednesday (April 15), some 12.1 milllion shares or a 5.19% stake in the company had crossed off-market at 10.5 sen apiece, for a total of RM1.27 million.
Niche Capital closed 0.5 sen or 2.17% lower at 22.5 sen today, with 8.79 million shares traded, for a market capitalisation of RM60.46 million.
http://www.theedgemarkets.com
April 21, 2015 : 8:54 PM MYT
KUALA LUMPUR (April 21): Niche Capital Emas Holdings Bhd , which is in the business of manufacturing, distribution and retail of gold jewelry and ornament, saw some 12.1 million shares or 5.19% equity stake crossed off-market today .
According to Bloomberg data, the chunk of shares in Niche Capital (fundamental: 0.75; valuation: 0) were transacted at 10.5 sen per share or RM1.27 million in total.
However, parties involved in the transaction are not known at the press time.
Major shareholders of the Practice Note 1 (PN1) company include Julian Foo Kuah Lin with a direct interest of 31.71%, RHB Bank Bhd with 27.8% direct interest, Pang Ling with 8.84% stake, CIMB Bank Bhd with 7.29% stake and United Overseas Bank (M) Bhd with 5.19% stake, according to Bursa Malaysia.
To recap, Niche fell into PN1 status after its former subsidiary Yikon Jewellery Industry Sdn Bhd defaulted on the repayment of its loans to AmBank (M) Bhd, United Overseas Bank Malaysia Bhd (UOB), RHB Bank Bhd and CIMB Bank Bhd.
The total outstanding amount was RM16.59 million or more than 5% of its net assets. Yikon Jewellery said it did not have sufficient funds to make the scheduled instalment. Niche was the loan's guarantor.
Subsequently, Niche settled part of the debt with RM1.01 million cash and an issuance of 115.13 million shares at 10 sen apiece for a total RM115.13 million, which represents 49.39% of its enlarged issued and paid-up capital.
Last Wednesday (April 15), some 12.1 milllion shares or a 5.19% stake in the company had crossed off-market at 10.5 sen apiece, for a total of RM1.27 million.
Niche Capital closed 0.5 sen or 2.17% lower at 22.5 sen today, with 8.79 million shares traded, for a market capitalisation of RM60.46 million.
http://www.theedgemarkets.com
