KUALA LUMPUR (June 15): Rosland Othman, group managing director and CEO of integrated civil construction service provider Sarawak Consolidated Industries Bhd (SCIB), has ceased to be a substantial shareholder of ES Ceramics Technology Bhd after disposing of 25.39 million shares in the latter on June 11.

Filings with Bursa Malaysia showed that out of the total, 12.85 million were direct shares and 12.54 million were indirect shares via private vehicle Vintage Capital Sdn Bhd.

Rosland emerged as a substantial shareholder of ES Ceramics, a maker of hand formers for rubber glove producers, on March 2, after buying 21.18 million shares or a 4.55% stake to lift its holdings over the 5% threshold for substantial shareholding. He had a 0.495% indirect stake or 2.3 million shares at the time.

Separate filings today showed that Rosli Hamat has also ceased to be a substantial shareholder of ES Ceramic after disposing of 27.38 million shares in the company, comprising 14.83 million direct shares and 12.54 million indirect shares via Vintage Capital.

Rosli emerged as a substantial shareholder on Jan 27, after buying 24.55 million shares in ES Ceramic.

The transaction prices were not disclosed, but ES Ceramics’ share price closed at 53 sen on June 11. The stock closed down 0.5 sen or 0.95% at 52 sen today, bringing a market capitalisation of RM259.83 million.

Last October, ES Ceramic undertook a bonus issue of 236.57 million new shares with free warrants, on the basis of one bonus share and warrant for every existing share held.

For the cumulative nine months ended Feb 28, 2021, the group achieved a net profit of RM15.68 million, up 482% from RM2.7 million a year ago, on higher sales output from the additional production capacity due to strong demand of formers, improved production activities and increase in average selling price. Revenue for the period rose 88.13% year-on-year to RM50.14 million.