Just on Jan 27, the company announced that its two majority shareholders, executive chairman Chan Chew Leh and CEO Tan Kok Huat have pocketed $4.7 million by selling 11.585 million shares at 41 cents each.
Reclaims Global is planning a one-for-one bonus share issue to improve accessibility for investors. From 151 million shares now, the company's share base will double.
With a bigger number of shares, it can tap a wider base of investors, potentially facilitating greater trading liquidity and investor participation, the company says.
