Far East Organization’s Philip Ng has emerged as a substantial shareholder of retailer F J Benjamin Holdings, following conversion of warrants into shares.

Ng via his vehicles, now hold 79.1 million F J Benjamin shares, equivalent to a stake of 7.46%. This was up from 4.44% previously. 

According to an F J Benjamin filing, Ng on April 1 converted 33.6 million warrants to shares at 4 cents each, costing him $1,346,400. 

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