Stake changes: Lenny Limanto cuts Geo Energy stake; Asian Pay Television Trust

Singapore 50 dollar bill

Singapore substantial shareholder changes: Geo Energy Resources and Asian Pay Television Trust (APTT)

Geo Energy Resources

Cheng Xin Investment saw its deemed interest in Geo Energy Resources fall to 8.77 percent from 9.48 percent after the disposal of 10.02 million shares in the market for around S$3.41 million on 29 December, according to a filing to SGX Wednesday.

Lenny Limanto, the sole beneficial owner of Cheng Xin Investment, and she has the equivalent deemed interest in Geo Energy, the filings said.

International Resources Investment, which held 117 million shares, according to the 2020 annual report, is a wholly-owned subsidiary of Cheng Xin Investment.

Infinity Pacific Investment, which held 28.72 million shares according to the 2020 annual report, is a wholly-owned subsidiary of Infinity Source Investment, which is wholly-owned by Cheng Xin Investment.

Cheng Xin Investment is therefore deemed interested in shares held by International Resources Investment and Infinity Pacific Investment.

Asian Pay Television Trust

Araedis Investment has acquired 643,500 units of Asian Pay Television Trust (APTT) at S$0.134 each in a market transaction on 28 December, boosting Dai Yung Huei’s deemed interest to 17.732 percent from 17.697 percent previously, according to a filing to SGX Thursday.

On 29 December, Araedis Investment acquired 438,800 units in the market at S$0.134 each, increasing Dai’s deemed interest to 17.757 percent, the filing said.

In a separate transaction on 29 December, Araedis Investment acquired 300,000 units at S$0.135 each, taking Dai’s deemed interest to 17.773 percent, the filing said.

Araedis Investment is wholly owned by Araedis International Development Co. (AIDC), which is in turn wholly owned by Araedis Global Investment Holdings (AGIH), the filing said. Araedis Investment Co. (AIC) holdings 15.82 percent of AGIH.

Wang Hsueh-Mei, who is married to Dai Yung Huei, is a director of AIC and holds 95 percent of its voting rights, while Dai holds the remainder. As a result, Dai is deemed interested in AIP’s holding in APTT, the filing said.

Dai is the founder of Dafeng TV, which is listed in Taiwan, and an indirect stakeholder in APTT’s manager. Dai is a non-independent, non-executive director of the trust’s manager.


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