KUALA LUMPUR (Dec 23): Microlink Solutions Bhd shares rose as much as 10% on surging volume in early trade after Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah emerged as a substantial shareholder of the technology group, with a 10.76% indirect equity interest the day before.
Some 11.09 million Microlink shares changed hands between 98 sen per share and RM1.06 per share in early trade. At 10.15am, the counter was up 3.3% at 98.5 sen.
According to Microlink’s Bursa Malaysia filing on Thursday (Dec 22), the King emerged as a substantial shareholder of Microlink after Gading Sari Ventures Sdn Bhd (GSV) acquired 115 million shares in the customised turnkey software and system solutions provider on Monday (Dec 19).
Last Thursday (Dec 15), GSV entered into a share sale agreement with Omesti Bhd for the purchase of the 115 million Microlink shares for RM63.25 million — an average of 55 sen apiece.
Subsequent to the transaction, Omesti remains Microlink’s largest shareholder with 390.59 million shares or 36.55% equity interest, followed by GSV (10.76%) and RHB Trustees Bhd (5.71%).