KUALA LUMPUR (Feb 14): The Employees Provident Fund (EPF) has ceased to be a substantial shareholder of MyEG Services Bhd after it sold 39.05 million shares, the company’s filing with Bursa Malaysia shows.

The shares were sold on Feb 10. However, the transaction price was not disclosed in the filing.

EPF had begun reducing its stake in MyEG since Feb 7 when it sold 49.65 million shares plus an additional 65.98 million shares on Feb 8.

Meanwhile, Kumpulan Wang Persaraan Diperbadankan (KWAP) also sold 1.51 million shares in MyEG on Feb 10.

As MyEG share price remains low, the company continued to buy back more shares on the open market.

On Tuesday (Feb 14), it bought back an additional two million shares at 63 sen apiece for RM1.26 million, according to the group’s filing.

In total, MyEG has spent RM5.4 million for eight million shares in its share buyback.

MyEG's share price recouped some lost ground on Tuesday after the company clarified that vehicle owners and drivers will still be able to renew their road taxes and driving licences through existing channels.

At Tuesday’s closing, MyEG’s share price was 3.31% higher at 62.5 sen, with a market capitalisation of RM4.67 billion.

https://www.theedgemarkets.com/node/655238