Weekly: JEP, PSC, Soon Hock & Mooreast directors see Huge Acquisitions
Over the five sessions, more than 80 director interests and substantial shareholdings were filed. Across more than 40 primary-listed stocks, Directors or CEOs reported 10 acquisitions and two disposals, while substantial shareholders recorded three acquisitions and six disposals.
1. $JEP(1J4.SI)$
Between January 16 and 22, JEP Holdings executive chairman and chief executive officer Andy Luong acquired 273,100 shares at an average price of S$0.29 per share. This took his total interest in the Catalist-listed provider of precision machining and engineering services from 79.66% to 79.72%.
2. $PSC Corporation(DM0.SI)$
On Jan 20, executive chairman Sam Goi Seng Hui acquired 339,800 shares at S$0.385 apiece. This increased his direct interest from 83.38% to 83.44%. His preceding acquisition was on Dec 18 with 1,401,600 shares acquired at S$0.375 per share.
In September, the mandatory conditional cash offer by UOB-Kay Hian, on behalf of Dr Goi, for all PSC Corporation shares closed with 39.56% valid acceptances, bringing his aggregate holdings to 82.94%.
3. $Soon Hock(SHE.SI)$
Between January 16 and 19, executive chairman Tan Yeow Khoon acquired 3,682,300 shares at S$0.635 apiece, lifting his total interest from 72.74% to 73.93%. He also made acquisitions in December and November.
Soon Hock Enterprise Holding made its SGX mainboard debut in October, raising S$48.1 million at S$0.58 per share. The initial offering received indications of interest and application monies of approximately S$122.6 million and 9.8 times subscribed.
4. $Mooreast(1V3.SI)$
On January 19, Mooreast Holdings Non-Executive Non-Independent Director Alvin Chew Lee Guan acquired 3 million shares at S$0.12 apiece. The married deal was his first acquisition since he was appointed to board in December.
Mr Chew is also the Managing Director, Head of Direct Investments of YZJ Asset Management Pte Ltd. In December, Mooreast also signed an MoU with Norway’s GMC to explore joint opportunities in floating offshore wind and oil & gas across Norway and the wider North Sea, including collaboration on anchoring, mooring and engineering solutions tailored to the Norwegian offshore market.
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