The directors of GK Goh Holdings , Goh Geok Khim and Goh Yew Lin, have raised their stakes in the company via GKG Investment Holdings.
GKG Investment Holdings is the company’s existing majority shareholder. Goh Geok Khim is GK Goh's executive chairman and founder while his son, Goh Yew Lin, is the company’s managing director.
GKG Investment Holdings had purchased 303,500 shares for $382,410 – or $1.26 apiece – via the market on March 9. The purchase raised GKG Investment Holdings’ stake in GK Goh Holdings to 64.59% from 64.49% previously.
The younger Goh, who is deemed to be interested in the shares held by GKG Investment Holdings Pte Ltd and his family members, now has a collective stake of 64.6% in GK Goh Holdings.
On Feb 28, the Gohs made a voluntary conditional cash offer of $1.26 per share to acquire all the issued and paid-up shares they do not own in the company. Following the announcement, shares in GK Goh Holdings surged by 38.5% from 91 cents to $1.26 cents, which is the price offered by the Gohs.
Shares in GK Goh closed flat at $1.26 on March 9.
