GESHEN (7197) - Pelita Niagamas emerges as substantial shareholder in Ge-Shen Corp
April 28, 2015 : 6:21 PM MYT
KUALA LUMPUR (Apr 28): Pelita Niagamas Sdn Bhd has emerged as a substantial shareholder in Ge-Shen Corp Bhd , following its acquisition of 11 million shares representing a 14.3% stake in the company at 68 sen a share, for a total of RM7.4 million.
By virtue of his holdings in Pelita Niagamas, Ge-Shen (fundamental: 2.2; valuation: 1.1)’s executive director Chan Choong Kong has also emerged as a substantial shareholder in the high precision plastic components manufacturer.
Chan, 53, was appointed as executive director on April 23 this year. He also holds 22.5 million unlisted redeemable convertible preference shares by virtue of his interest in Pelita Niagamas.
Ge-Shen shares closed four sen or 5.56% lower at 68 sen, with a market capitalisation of RM53.45 million.
http://www.theedgemarkets.com
April 28, 2015 : 6:21 PM MYT
KUALA LUMPUR (Apr 28): Pelita Niagamas Sdn Bhd has emerged as a substantial shareholder in Ge-Shen Corp Bhd , following its acquisition of 11 million shares representing a 14.3% stake in the company at 68 sen a share, for a total of RM7.4 million.
By virtue of his holdings in Pelita Niagamas, Ge-Shen (fundamental: 2.2; valuation: 1.1)’s executive director Chan Choong Kong has also emerged as a substantial shareholder in the high precision plastic components manufacturer.
Chan, 53, was appointed as executive director on April 23 this year. He also holds 22.5 million unlisted redeemable convertible preference shares by virtue of his interest in Pelita Niagamas.
Ge-Shen shares closed four sen or 5.56% lower at 68 sen, with a market capitalisation of RM53.45 million.
http://www.theedgemarkets.com
