MyNews Holdings Bhd (KL:MYNEWS) on Wednesday announced the appointment of Amir Nashrin Johari as a non-independent and non-executive director effective May 1.
Amir Nashrin, 32, is the son of Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani, whose investment vehicle JAG Capital Holdings Sdn Bhd is the convenience store operator’s major shareholder.
JAG Capital emerged as a substantial shareholder of MyNews in December last year after raising its stake to about 20.3% through off-market purchases totalling 48.3 million shares.
The Dang family, via investment vehicle D&D Consolidated Sdn Bhd, remains the largest shareholder of MyNews with a stake of about 50%.
According to MyNews’ bourse filing, Amir Nashrin currently sits on the boards of JAG Capital Bhd (KL:JAGCPTL), CI Holdings Bhd (KL:CIHLDG) and Central Cables Bhd, companies in which he is also a major shareholder through the family’s investment vehicle.
He has an accounting and finance degree from Oxford Brookes University, United Kingdom.
MyNews also announced that it has identified a suitable candidate to be appointed as independent director and expects to regularise its board composition within the three-month grace period allowed under Bursa Malaysia’s listing requirements.
Shares of MyNews ended down 0.5 sen or 1.01% at 49 sen, giving it a market capitalisation of RM367.67 million. The stock is down 10.9% this year. – THE EDGE MALAYSIA
