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AV Concept (0595) "clarifies" shareholdings
Company announcement, 30-Dec-2019
Importantly, Chairman So Yuk Kwan increased his holding by 25m shares (3.23%) "in June 2017", when the shares were "held by a friend" on trust. This appears to breach the Creeper Rule of 2% per year, triggering a mandatory general offer at the highest price paid in the prior 6 months. It may relate to a disposal by Central Investments Ltd on 8-Jun-2017, at an undisclosed price. The adjusted highest known price paid by Mr So in the 6 months prior was $0.4917 ($0.59 before a bonus issue).