9th Sep 2014 11:55
LONDON (Alliance News) - Resource Holding Management Ltd Tuesday said it has sold a portion of its stake in PUC Founder Bhd via the sale of shares on the Malaysian market.
Resource Holding said it shed a 1.75% stake in the Malaysia-based biometrics and electronic publishing solutions provider by the sale of 15.2 million shares on Bursa Malaysia's ACE Market in a three-tranche transaction last Wednesday. The disposal reduces Resource Holding's stake in PUC Founder to 59.01%, a total of 512.7 million shares.
Resource said it intends to use the money raised from the disposal for general working capital purposes.
Resource Holding shares were up 1.6% to 16.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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