Shares & Derivatives
What is happening at Innotek Holdings Limited ?
By Kevin Scully-Financial Blog  •  July 21, 2014

Monday, 21 July, 2014 9:0 AM

Posted by Kevin Scully

 The chart below shows that Innotek shares have risen about 30% since late May 2014 but only started rising sharply last week.

Some corporate action is possible because:

a) in May 2014 - its Managing Director Yong Kok Hoon resigned

b) in July 2014 it sold its 15mn Sebana reits at S$1.05

When the shares started to rise last week - Innotek was queried by the SGX.    Innotek's first response was that it was not aware of any reason for the price movement.  It subsequently annouunced that Gazelle Capital, one of its substantial shareholders was in discussions.

Looking at its 2013 annual report - the shareholder numbers are as follows:

a) Chandaria Trust owns 37.5%

b) Gazelle Capital owns 5.56%

From this and the Gazelle announcement,  my view is that any corporate development involving ...

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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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