According to a bourse filing on Dec 23, Addvalue’s CEO Tan Khai Pang and non-executive chairman Richard John Denny have exercised their rights to convert their convertible loan notes (CLNs) and warrants into ordinary shares.
Tan converted $52,000 in CLNs and 4,000,000 warrants into 8,000,000 ordinary shares on Dec 22, while Denny converted $26,000 in CLNs and 2,000,000 warrants into 4,000,000 ordinary shares on the same day. The CLNs and warrants are converted at an exercise price of 1.3 cents.
Addvalue shares closed 1.49% higher at 6.8 cents on Dec 24. The company is up 518.18% year to date.
