KUALA LUMPUR: Track and trace solutions provider SMTrack Bhd managing director Yow Lock Sen has resigned from the post, citing “health reasons” and sold off some 25 million shares in the firm.
In an announcement to Bursa Malaysia, the company said Yow, 60, had sold the shares equivalent to an 8% stake on March 14.
SMTrack also said Yow’s resignation as MD will take effect from May 14. However, he will remain as CEO for six months pursuant to his employment contract with the company.
On March 14, the firm received an unusual market query from Bursa Malaysia after trading volume in its shares spiked.
The company in its reply said it was not aware of any developments that may have caused this, save for Yow’s actions.
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