SINGAPORE (March 27): Ooi Wooi Jing, another significant shareholder of ISR Capital has started selling shares in the troubled company, which has seen its stock price drop by more than 96% since it resumed trading on March 6 following an SGX-imposed suspension.

In aftermarket announcement on Monday, Ooi was said to have sold a total of 5,445,900 shares at an average of 0.825 cents each last Friday, which generated him $44,928.675 in proceeds. However, even with the sale, Ooi still owns 170 million ISR shares, or 9.9% stake in the company.

Over the past week, the volume of ISR Capital shares traded have picked up significantly, as new shares were converted by Value Capital Asset Management (VCAM), which has an ongoing $35 million redeemable convertible bond programme with ISR Capital.

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