Two days after the sales, SunMoon Food announced that Shanghai Yiguo E-Commerce, ultimate parent company of SunMoon Food’s controlling shareholder, had filed for voluntary bankruptcy reorganisation in China on July 30, which was more than two months ago.
Deputy chairman of SunMoon Food Company Gary Loh sold more than $78,000 worth of shares in the company on Oct 8 and Oct 9. That leaves him with just over 60.3 million shares, or a 7.69% stake, in the food supply chain manager.
Loh sold via an entity called First Alverstone Capital, which he controls jointly with his wife Selena Cheng Koh Min. The sales were disclosed in a Singapore Exchange filing on Oct 10.
