Sin Huat Company has emerged as a new substantial shareholder at Hanwell Holdings after it acquired 68 million shares amounting to 12.29% of the company’s total issued and paid-up share capital on June 11 via an off-market transaction.
The announcement, which came on June 14, follows a June 11 announcement where Hanwell’s controlling shareholder and former director, Dr Tang Cheuk Chee, had disposed of 68 million shares for a consideration of $28.56 million.
See: Hanwell reveals significant shareholder disposes of 12.3% stake for $28.6 mil in response to SGX query
Sin Huat’s two shareholders, Bernard Cheng Koh Chuen and Cheng Chih Kwong, are the executive director and group chairman and CEO of Prima Group respectively.
No reasons were given for the share disposals.
Shares in Hanwell closed 1.5 cents lower or 3.3% down at 44 cents on June 14.
Photo: The Edge Singapore
