EPF now owns 1.33 billion shares in the company, after it received 30.3 million shares under the plan. Axiata was the third-largest gainer on the stock exchange at the close, with some nine million shares traded. PETALING JAYA: Shares in Axiata Group Bhd rose as much as 22 sen or 4% to close at RM5.70 yesterday, right after the Employees Provident Fund (EPF) upped its stake in the group to 14.89% from 14.72% upon receiving the former’s dividend reinvestment plan. It was reported that, among other changes, the reorganisation plan saw the appointment of Datuk Seri Shazalli Ramly as the regional chief executive officer and corporate EVP for Axiata’s South-East Asia operations effective Sept 1, 2016. EPF’s move to increase its interest followed Axiata’s announcement on its corporate reorganisation on Thursday, which sees top leadership changes in line with the group’s strategy to refresh the management teams and execute its succession plan, apart from building up the corporate headquarters.

Source: The Star July 15, 2016 23:16 UTC