UPDATE: Stake changes: DBS CEO Gupta gets share award; CEREIT, NetLink NBN, OxPay, Metech, Q&M

DBS ATMsDBS ATMs

Singapore substantial shareholder changes announced on Friday, 26 November 2021: DBS, NetLink NBN Trust, OxPay Financial, Metech International and Q & M Dental Group (Singapore).

This item was originally published on Saturday, 27 November 2021 at 1:50 a.m. SGT; it has since been updated to include Cromwell European REIT (CEREIT). 

DBS Group

DBS Group CEO Piyush Gupta acquired 26,400 shares of the bank through the vesting of share awards, for a 0.001 percent direct interest in addition to his 0.078 deemed interest, for a total interest of 0.079 percent, according to a filing to SGX Friday.

Cromwell European REIT and BlackRock

BlackRock acquired 715,700 units of Cromwell European REIT (CEREIT) in the market on 24 November for S$1.86 million, taking its interest to 6.06 percent from 5.93 percent, according to a filing to SGX Saturday.

NetLink NBN Trust, M&G and Prudential Assurance Co.

M&G Investment Management became a substantial unitholder of NetLink NBN Trust after acquiring 3.26 million units at S$0.968849 each in a market transaction, taking its interest to 5.038 percent from 4.954 percent previously, according to a filing to SGX Friday.

The units were acquired on 1 December 2020, but the M&G became aware of the change of interest on 14 October 2021 after undertaking a review of its shareholder reporting service after a change of investment strategy, the filing said.

In a separate filing, M&G Investment Management said 5.093 million shares were acquired at S$0.9745 each on 15 September 2021, with M&G becoming aware of the interest on 14 October, taking its deemed interest to 6.049 percent from 5.918 percent.

M&G Investment Management has discretionary power in the disposal rights over the NetLink NBN shares as the investment manager, making it deemed interested in the stake, the filing said.

M&G FA, M&G Group, M&G Regulated Entity Holding Co. and M&G PLC are also deemed interested in the shares, the filing said.

Separately, the Prudential Assurance Co. also became a substantial shareholder after the acquisition of 1.541 million shares at S$0.985 each on 12 October, taking its deemed interest in NetLink NBN Trust to 5.034 percent from 4.995 percent previously, according to a filing to SGX by M&G Investment Management, which also cited the issues with the reporting service.

OxPay Financial

Shawn Ching Wei Hung, deputy chairman at OxPay Financial, acquired 140,000 shares of the digital payment company in the market at S$0.285 a share for a 0.05 percent stake, according to a filing to SGX Friday. Prior to the acquisition, he didn’t hold any OxPay shares, the filing said.

Q & M Dental Group (Singapore)

Ng Chin Siau’s deemed interest in Q & M Dental Group (Singapore) increased to 53.11 percent from 52.74 percent after Quan Min Holdings acquired 3.5 million shares of the company on 25 November for S$2.10 million, according to a filing to SGX.

Ng is also deemed interested in 121,200 shares held by his spouse, Foo Siew Jiuan, the filing said.

Quan Min is Q & M Dental’s parent company; Ng is Q & M’s founder and CEO.

Metech International

Lim Hean Nerng, the founder of LHN Group, acquired around 1.86 million shares of Metech International in the market for around S$548,081, taking his stake to 10.87 percent from 9.53 percent, according to a filing to SGX Friday.

According to a separate filing, substantial shareholder Wu Yongqiang acquired 500,000 Metech International shares in the market for S$147,500, taking his stake to 14.92 percent from 14.56 percent previously.

 

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