Directors’ trades
Posted by golfamateur on June 21, 2007
TRANSVIEW DIRECTOR SELLS ENTIRE STAKE
THE executive director of Transview Holdings has sold his entire shareholding in the golfing equipment distributor.
Mr Lim Teng Neng sold his remaining deemed stake of 1.1 million shares on Tuesday.
According to a Singapore Exchange filing, he sold 750,000 shares at an average price of 46.5 cents each, and another 350,000 shares at 46 cents apiece.
A day earlier, Mr Lim sold 946,000 shares on the open market at 47.24 cents each, the same day that Transview’s stock price hit an all-time high of 47.5 cents.
His two-day sale would have netted him about $956,600. It comes just days after the firm said its net profit for the half-year ended April 30 declined 3 per cent to $838,000 – as a result of a fall in golf management and other revenues.
Total revenue for Transview, which operates driving ranges in Singapore, Malaysia and Thailand, was also down 3 per cent at $15.5 million.
However, the company’s prospects look set to improve as Transview announced plans last month to expand in the Persian Gulf region and the Middle East.
It also appointed a new key shareholder and chairman, Sheikh Faisal F.J.Al-Thani, from Qatar.
Sheikh Faisal’s investment vehicle, Gulf Asia Pacific Equity Fund, has agreed to take a 5 per cent stake in Transview.
Transview shares shed a cent to 44.5 cents yesterday, with more than 2.2 million units changing hands.
Source:
Paper: Straits Times, The (Singapore)
Date: June 21, 2007
