KUALA LUMPUR (Feb 4): HCK Capital Group Bhd’s (KL:HCK) non-independent non-executive director Datuk Diong Tak Chong @ Tiong Tak Chong has emerged as a substantial shareholder of the property developer with a 5.27% stake.
This came after Tiong converted warrants into 2.6 million shares or a 0.42% stake on Jan 28, according to HCK Capital’s bourse filing on Monday.
Following the warrant conversion, Tiong’s stake in HCK Capital stood at 5.27% or 32.38 million shares.
Tiong was appointed to HCK Capital’s board in June 2022. At the time, he only controlled 184,300 shares.
HCK Capital is controlled by its executive chairman Tan Sri Clement Hii Chii Kok @ Hii Chee Kok with 55.78%.
In December last year, HCK Capital issued 47.26 million shares, equivalent to a 7.7% stake in the company, to Hii at RM2.1161 apiece as settlement of a RM100 million debt its wholly owned unit Global Activate Sdn Bhd owed the company’s chairman.
The debt settlement trimmed Global Activate’s debt to Hii to RM13.35 million.
Both Hii and Tiong are also substantial shareholders of SEG International Bhd (KL:SEG). Hii controls a 60.08% stake in the education group, while Tiong controls 13.37%.
Hii is SEG International’s founder and managing director, while Tiong was appointed as an executive director on the education group’s board on Jan 15.
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Source: EdgeProp.my
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