Levin Lee Keng Weng, AcroMeta’s former executive chairman, has disposed of 10 million shares via an off-market transaction.
The shares were sold on March 7 for $787,000 or 7.87 cents per share.
On the same day, Marilyn Tay Bee Choo became a substantial shareholder of the company after she bought 7 million shares for $700,000 or 10 cents per share.
Tay, who bought the shares via an off-market transaction, upped her stake in the company to 17.3 million shares or 5.08%, from 3.02% previously.
Following the sale, Lee has 61.5 million shares in Acrometa representing an interest of 18.11% from 21.05% previously.
Lee was appointed to the role in February 2023 before he stepped down almost a year later citing health reasons.
See also: Ong Beng Seng acquires 1.2 mil shares for $4.3 mil in company, total stake increases to 60.45%
Per a filing dated Feb 8, 2024, Lee remained on the management of AcroMeta Minerals, AcroMeta’s mineral products subsidiary, to help the group with the exploration of the sand export business.
According to Acrometa’s annual report for FY2024 ended Sept 30, 2024, Tay is one of the company’s 20 largest shareholders. The report states that as at Dec 26, 2024, Tay owned 10,262,548 shares in the company amounting to a 3.02% stake at the time.
Shares in AcroMeta closed flat at 2.9 cents on March 7.
