Suspended MD, wife sell Silver Bird shares
PETALING JAYA: Suspended Silver Bird Group Bhd managing director Datuk Jackson Tan Han Kook and his wife Datin Ong Hooi Siang had their shareholdings in the company reduced further after they disposed of some shares on the open market.
A filing with Bursa Malaysia showed that Ong had disposed of 420,500 shares, representing 0.1% of the total issued and paid-up share capital of Silver Bird at 21.7 sen each last Friday.
Following the disposal, Ong still has a direct interest of 1.88%, or 7.66 million shares, in Silver Bird.
That portion represented Tan’s indirect interest in the company by virtue of the former being his spouse.
Ong still held an indirect interest of 6.54%, or 26.6 million shares, in Silver Bird through Tan.
Last month, an announcement to Bursa Malaysia indicated that 1.16 million of Tan’s shares had been sold on March 7 in addition to a further 2.97 million shares that had been forced-sold the day before for 17.8 sen while Ong also saw her portion of holdings being cut by 1.16 million on March 7.
The shares were forced-sold by Cimsec Nominees (Tempatan) Sdn Bhd and the couple’s combined shareholding stake had been cut to 8.53% as of yesterday from 9.55% when the forced-sale started at the beginning of this week.
Silver Bird is now categorised as a Practice Note 17 and Practice Note 1 company because it has not been able to repay its debts to the parties that had lent them money to do business.
Yesterday, Silver Bird lost one sen to close at 21 sen, with a volume of 2.54 million shares.
The board of Silver Bird had lodged a police report on Feb 26 in relation to the alleged financial irregularities.
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