SINGAPORE (April 8): Phua Lam Soon, CEO of Boldtek Holdings, has been buying up shares in the construction company. On April 1, he paid $9,174.90 for 85,000 shares, which works out to an average price of nearly 10.8 cents. Just three days earlier, on March 29, he paid an average price of 9.58 cents for 256,000 shares. The purchases were made via an entity called Yi Investment, in which Phua owns a 50% stake. His wife, Ong Siew Eng, who is Boldtek’s executive director, holds the other half.
With this purchase, Yi Investment’s stake in Boldtek has increased to nearly 89.2 million shares, representing a 48.036% stake, from 47.99% previously. In addition to the stake held via Yi Investment, Phua holds a direct stake of 14.7 million shares, or 7.92% of the company. That brings his total direct and deemed stake to around 64%.
Prior to March 29, Phua, via Yi Investment, bought shares on March 22. He paid $4,129.20 for 45,000 shares, which works out to an average price of nearly 9.2 cents.