KUALA LUMPUR: PLS Plantations Bhd in a filing with Bursa Malaysia Securities Bhd yesterday said its controlling shareholder, Ekovest Bhd, transferred 167,731 shares it owns in the company to its adviser as payment.
The filing with Bursa Malaysia Securities Bhd, PLS Plantations said the transfer made on Wednesday was payment for a corporate proposal undertaken by Ekovest.
After the transfer, Ekovest still owns a 61.56 per cent interest in PLS Plantations.
For the nine-month period ended Mar 31, 2024, Ekovest posted a net loss of RM58 milion on 4.5 per cent higher revenue of RM875.4 million.
PLS Plantations' share price closed half a sen lower to 70.5 sen, giving it a market capitalisation of RM309.9 million.