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Notable Trade Wei acquires more REDtone shares from ACE market

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Notable Trade Wei acquires more REDtone shares from ACE market Empty Notable Trade Wei acquires more REDtone shares from ACE market

Post by Cals Tue 07 Oct 2014, 23:37

Notable Trade Wei acquires more REDtone shares from ACE market
Business & Markets 2014
Written by Charlotte Chong of theedgemalaysia.com   
Tuesday, 07 October 2014 18:24

KUALA LUMPUR (Oct 7): ACE Market-listed REDtone International Bhd’s Managing Director Datuk Wei Chuan Beng has acquired 435,100 shares of the company from ACE market today, raising his holdings to a direct interest of 25.96 million shares or a 5.05% stake. 

In a filing to Bursa Malaysia today, the broadband player said Wei also has an indirect interest of 4 million shares or 0.77%.

It is worth noting that Wei had been acquiring more shares in REDtone since last week. 

Wei’s purchase came after a recent REDtone announcement that its external auditor, Messrs Crow Horwath, had expressed a qualified opinion on the company’s audited financial statement for the financial year ended May 2014, in respect to a debt owed by a third party. 

REDtone dipped 0.64% to end at 77.5 sen today, giving it a market capitalisation of RM393.18 million.
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