28 April 2012

mTouche Chairman Resigns, Raja Hizad emerged as substantial shareholder with 28.83% stake

(MTOUCHE closing stock price yesterday (27.4.2012) was 54 sen) 

Eugene Goh, the chairman and chief executive officer of mTouche Technology Bhd, has resigned from his positions, the company said in filings to Bursa Malaysia.

The reason given for the resignation was that he wanted to “pursue other career developments”.

Goh was the founder and major contributor to mTouche's early success in the company. Goh currently has a direct interest of 20,000 mTouche shares and 73 of the warrants. On April 23, he had disposed of 59.56 million shares in a direct deal.

Meanwhile, executive director Tan Wee Meng also resigned from his position “to pursue other career developments”. He had disposed of 10 million shares or a 4.5% stake in the company on April 23. Raja Hizad bin Raja Kamarulzaman emerged as a substantial shareholder after purchasing 66.5 million shares or a 28.83% stake in mTouche via his substantial shareholding in Homegrown Media Sdn Bhd. This makes Homegrown Media the largest shareholder in mTouche currently. Raja Hizad has also been appointed as non independent and non executive chairman of the company.

There were several other changes to the boardroom. Datuk Ahmad Bahrin Idrus was appointed as independent and non executive director while Ng Joo How resigned as independent and non executive director.

Yeap Teik Pung was appointed as independent and non-executive director while Datuk Kong Hien Nigh was appointed as executive director

Source: www.thestar.com.my


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