CENSOF Holdings Bhd announced the forced selling of 43 million shares, or 2.45%, in associate firm Dagang NeXchange Bhd (DNeX) for RM3.92 mil.
In a filing with Bursa Malaysia, the technology group said the original cost of investment was RM8.76 mil.
Censof said it was expected to incur a loss of RM10.72 mil at group level and RM4.84 mil at company level from the disposal of the shares.
“The RM3.92 mil will be utilised for the partial repayment of share margin loan principal under MIDF,” it explained.
Censof said the sale was an open market transaction and the disposal consideration was arrived based on the market price on March 17.
It added that the disposal would not have any effect on the issued and paid-up share capital and shareholding structure of the substantial shareholders in Censof. – March 19, 2020, Bernama
