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Goi buys out former Hanwell director Tang at 42 cents per share, new 29.78% stake just shy of GO requirement

The Edge Singapore
The Edge Singapore6/15/2021 2:16 PM GMT+08  • 1 min read
Goi buys out former Hanwell director Tang at 42 cents per share, new 29.78% stake just shy of GO requirement
Goi and Tang were earlier in a boardroom tussle
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Hanwell shares surged following news that chairman Goi Seng Hui has increased his stake in the consumer staples company after buying out from former executive director Coco Tang Cheuk Chee in a married deal.

According to an SGX filing earlier today, Goi paid $16,529,730, or 42 cents each, for 39.36 million shares.

Goi now has a total stake of 164.8 million shares, equivalent to 29.78% - just shy of the 30% mark above which Goi will be obliged to make a general offer for the company. He held 22.67% previously.

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