<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 30): The largest shareholders of Malayan Flour Mills Bhd (MFM) saw their stakes in the flour miller rise due to the mandatory conversion of redeemable convertible unsecured loan stocks (RCULS).</p></div>

<div class=newsTextDataWrapInner><p>According to a bourse filing on Tuesday, MFM executive deputy chairman cum managing director Teh Wee Chye converted a total of 98.57 million units of five-year 5% RCULS 2019/2024 into ordinary shares at five sen apiece, for an aggregate sum of RM49.28 million.</p></div>

<div class=newsTextDataWrapInner><p>A total 75.32 million of the units were held directly by Teh, with the rest held under his investment vehicles namely Thye Nam Loong Holdings Sdn Bhd, Thye Nam Loong Sdn Bhd, Suai Timber Products Sdn Bhd and Essence Lane Sdn Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The conversion of the RCULS raised Teh’s stake in MGM to 23.11%.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, the group’s second largest shareholder Datin Seri Azlin Arshad converted 24.87 million loan stocks at a total exercise price of RM12.43 million. This raised her stake in the group to 7.96%.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Azlin emerged as a substantial shareholder in MFM last October after inheriting her stake from the estate of her late father Tun Arshad Ayub, who previously served as MFM chairman.</p></div>

<div class=newsTextDataWrapInner><p>Shares in MFM ended two sen or 2.99% lower at 65 sen, giving the group a market capitalisation of RM805.44 million.</p></div>


The largest shareholders of Malayan Flour Mills Bhd (MFM) saw their stakes in the flour miller rise due to the mandatory conversion of redeemable convertible unsecured loan stocks (RCULS).

MFM’s largest shareholders up stakes via mandatory RCULS conversion

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