Darren Teo, managing partner of Apricot Capital, has upped his personal stake in Marco Polo Marine to 3 million shares or 0.08% from 0.04% previously.
On July 21, Teo, who is also a non-executive director on Marco Polo Marine’s board, snapped up 1.5 million shares in the company via the market at 5.4 cents apiece. Together with his deemed interest of 16.17% via Apricot Capital, Teo's total interest in Marco Polo Marine now stands at 16.25%.
Year-to-date, shares in Marco Polo Marine have risen by some 38.46% from 3.9 cents on Jan 2 although it’s dipped somewhat from July’s peak of 5.9 cents.
Apricot Capital was one of the nine white knights that provided restructuring financing to Marco Polo Marine in 2017 with a capital injection of $20 million.
Marco Polo Marine’s CEO Sean Lee is Teo’s longtime friend.
Shares in Marco Polo Marine closed 0.1 cent lower or 1.85% down at 5.3 cents on July 24.
