Also on the same day, Addvalue non-executive chairman Richard John Denny exercised his right to convert $26,000 in CLNs and 2,000,000 warrants into 4,000,000 ordinary shares. Denny now holds 9,500,000 shares, and his stake has risen to 0.277% from 0.16%.
Both the CEO and chair of Addvalue Technologies have increased their holdings in the satellite telecommunications company after converting their convertible loan notes and exercising their warrants.
According to a Dec 23 bourse filing, Addvalue CEO, co-founder and executive director Tan Khai Pang exercised his right to convert $52,000 in convertible loan notes (CLNs) and 4,000,000 warrants into 8,000,000 ordinary shares on Dec 22. Tan now holds 44,201,000 shares, and his stake has risen to 1.288% from 1.055%.
