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PropNex directors acquire shares; Phillip Securities makes 'buy' call on sector

Pauline Wong
Pauline Wong6/7/2019 07:30 AM GMT+08  • 3 min read
PropNex directors acquire shares; Phillip Securities makes 'buy' call on sector
SINGAPORE (June 10): Top executives in PropNex Realty recently acquired a total of 709,400 shares at 48 cents each. Executive chairman and CEO Ismail Gafoore purchased a total of 609,400 shares on May 28 and June 4 and executive director Alan Lim Tow Huat
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SINGAPORE (June 10): Top executives in PropNex Realty recently acquired a total of 709,400 shares at 48 cents each. Executive chairman and CEO Ismail Gafoore purchased a total of 609,400 shares on May 28 and June 4 and executive director Alan Lim Tow Huat bought 100,000 shares on June 4.

Their purchases come after shareholders approved a share buyback mandate at the most recent annual general meeting on April 10. PropNex can now buy up to 37 million shares from the market, but it has yet to do so.

Ismail has made several share transactions since March. On March 26, he acquired 300,000 shares at 59 cents apiece and on March 27, he bought another 200,000 at 58 cents each. He also transferred 24,076,650 ordinary shares held by him and registered in the Register of Members of the Company to his nominee account maintained with UOB Kay Hian on March 4.

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