Insider Moves (April 30 – May 4)
by Ernie B. Calucag
The week saw two major off-market transactions that led to significant change of ownership in both Natural Cool Holdings and Oriental Group Limited.
For Natural Cool, Steven Chen sold off his 9.375 million shares to Tan Aik Kwong for S$0.16 per share in an off-market transaction. Chen decreased his equity stake in the airconditioning company to 1.97 per cent while Tan’s stake rose to 7.13 per cent.
In Oriental Group, Dingji Investments bought 30 million shares of the China-based snack food manufacturer from Giant Success Investments Limited for S$0.10 per share.
The transaction made Dingji Investments a substantial shareholder with 14.38 per cent equity stake while Giant Success Investments’ stake declined to 8.2 per cent.
Dingji Investments Ltd is a company established in BVI and it shares are held equally between Sun Lv and Miao Lina. Meanwhile, Giant Success Investments Limited is a company established in BVI and is beneficially owned entirely by Liou Fangyou.