PERMAJU INDUSTRIES BERHAD ("PERMAJU" OR "THE COMPANY") - DISPOSAL OF SHARES IN PNE PCE BERHAD (PNE) BY ICONWORLD RESOURCES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF PERMAJU INDUSTRIES BERHAD
The Board of Directors (“Board”) of Permaju wishes to announce that its wholly-owned subsidiary, Iconworld Resources Sdn Bhd, had on 14 December 2021 and 15 December 2021, disposed a total of 30,000,000 ordinary shares, representing an aggregate of 5.352% of the total number of issued shares of PNE for a total cash consideration of RM2,550,000.00 via open market (“the Disposal”).
Subsequent to the Disposal, the Company has ceased to be a substantial shareholder of PNE pursuant to Paragraph 9.19(27) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”).
Please refer to the attachment for further details.
======= Permaju disposal incurred huge losses. Average purchase price could be above 50sen Many penny stocks invested in other penny stocks not to make profit but incurred huge losses. One way for money to flow out from company fund.
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