To The Moon

The four trading sessions saw more than 100 changes to director interests and substantial shareholdings filed for more than 50 primary-listed stocks. Directors or CEOs filed 19 acquisitions, and one disposal, while substantial shareholders filed three acquisitions and two disposals.

Seatrium initiates buyback programme

1.Seatrium

$Seatrium(S51.SI)$ ’s reverse stock split of one share for every 20 shares is scheduled to go ex-entitlement on May 7, with the record date on May 8. This share consolidation was proposed back in February.

On Apr 29, Seatrium also announced it would initiate a S$100 million share buyback programme to repurchase its shares from the open market, using existing cash reserves. The repurchased shares will serve various purposes within the company, including employee share plans and director fee payments, or they may be cancelled to enhance shareholder value.

Seatrium announced the move was on the back of its improved financial standing and its commitment to aligning with shareholder interests. The programme follows the guidelines of the share purchase mandate, approved by shareholders, allowing a buyback of up to 2 per cent of total issued shares. The duration of the buyback programme is contingent on share prices and may extend beyond a year.

2.PSC Corporation

$PSC Corporation(DM0.SI)$ executive chairman Sam Goi Seng Hui continued to build his interest in the consumer product manufacturer and distributor. Between Apr 26 and 30, Goi acquired 286,200 shares of the company at S$0.35 each, taking his total interest from 30.77% to 30.82%.

3.LHT Holdings

$LHT(BEI.SI)$  managing director and CEO Yap Mui Kee acquired 49,800 shares on Apr 30 at an average price of S$1.196 per share. This takes her direct interest in the home-grown pallet manufacturer from 17.18% to 17.27%, and followed her acquisition of 138,000 shares at an average price of S$1.186 each between Apr 19 and 23. Yap has gradually increased her direct interest in LHT from 14.12% in August 2021.

4.Beng Kuang Marine

On Apr 30, $Beng Kuang^(BEZ.SI)$ substantial shareholder, Ginko-AGT Global Growth Fund, increased its direct interest in the company to 6%. The fund acquired 210,000 shares at an average price of S$0.18 per share. AGT Partners is a local fund that adopts value-driven strategies, focusing on bottom-up stock picking with an emphasis on long-term growth appreciation. The Ginko-AGT Global Growth Fund emerged as a substantial shareholder of Beng Kuang Marine on Apr 19.

https://www.sgx.com/research-education/market-updates/20240506-seatrium-initiates-buyback-programme