Compact Metal surges on news of exercise of option
October option deal includes chairman selling some shares at eight Singapore cents apiece
Remisier kings
The cousins who have taken over Peter Lim’s throne View PDF
Popular posts from this blog
Ex-bank owner Agus Anwar declared bankrupt
Prominent former bank owner Agus Anwar was yesterday declared bankrupt by the High Court.
Two ex-UOBKH staff charged with lying to MAS over due diligence reports on a Catalist aspirant
TWO former senior employees of UOB Kay Hian Private Limited (UOBKH) were charged on Wednesday for allegedly lying to the Monetary Authority of Singapore (MAS) in relation to reports on a then Catalist aspirant. Lan Kang Ming, 38, and Wee Toon Lee, 34, each face three charges of providing MAS with false information in October 2018 in relation to due diligence reports on an unidentified company applying to list on the Catalist board of the Singapore Exchange. MAS said in a media statement on Wednesday that it was performing an onsite inspection of UOBKH between June and August 2018, to assess the latter's controls, policies and procedures in relation to its role as an issue manager for Initial Public Offering (IPOs). During the examination, Lan and Wee were said to have provided different versions of a due diligence report relating to background checks on a company applying to be listed on the Catalist board of the Singapore Exchange. UOBKH had acted as the issu...
Comments
October option deal includes chairman selling some shares at eight Singapore cents apiece
Anita Gabrielanitag
04 November 2014
Penny stock Compact Metal Industries was the second most actively traded counter on Monday with some 159 million shares worth about S$10.5 million changing hands.
The counter, in which trading resumed at 10.30am on Monday after a trading halt since Thursday last week pending an announcement, shot up 9 per cent, or 0.4 cent, to close the day at 4.8 Singapore cents.
In one announcement before the lifting of the trading halt, Compact Metal said that one Ma Zhao Yang has exercised a call option to require Chng Gim Huat, executive chairman and the largest shareholder of Compact Metal, to sell him 84.6 million shares and 86.76 million warrants.
As a result, Mr Chng’s share interest in Compact Metal was reduced from 41.86 per cent to 31.28 per cent, said a separate filing. His holding of 212.08 million warrants was also cut to 125.32 million.
Mr Ma’s direct direct stake went up from 3.525 per cent to 14.1 per cent but his total direct and deemed interest stayed unchanged at 29.37 per cent.
In early October, a sale and purchase agreement was signed for Mr Chng to sell 28.2 million shares and 28.92 million warrants of Compact Metal to Mr Ma. Mr Ma was then granted a call option for up to 206.8 million shares at eight Singapore cents each and up to 212.08 million warrants at 2.99 Singapore cents each.
Based on this option agreement between the two parties, there is a balance of up to 122.2 million shares and up to 125.32 million warrants that has yet to be exercised.
Compact Metal Industries sells aluminium windows and doors primarily in Singapore and Malaysia.