Kelvin Chow Chung Yip, independent and non-executive director of the mobile satellite communications company Addvalue Technologies, bought 250,000 shares from the open market on Dec 22 at 6.4 cents each.
Chow was the CEO of Lendlease Global Commercial REIT from June 2018 to March 2025. Before Lendlease, Chow was the CFO of various SGX-listed REITs, such as Keppel REIT and Soilbuild REIT. He was appointed to Addvalue’s board on Oct 14 and was made the chair of its audit and risk committee on Nov 14.
Previously, Chow did not hold any Addvalue shares. The company said in a separate bourse filing on Dec 22 that it would be issuing a total of 48,500,00 new ordinary shares following the conversion of 33,500,000 convertible loan notes (CLNs) and 15,000,000 warrants. Both the CLNs and warrants are being converted at an exercise price of 1.3 cents. The new shares will be listed and quoted on the mainboard on Dec 24.
Addvalue shares closed at 7 cents on Dec 22, and were up by 0.8 cents or 12.9%. The company’s shares are up 536.36% year to date.
