Monday, 22 March 2010

William Cheng buys 33.5m Lion Industries shares

William Cheng buys 33.5m Lion Industries shares

Written by Joseph Chin
Monday, 22 March 2010 19:36

KUALA LUMPUR: Tan Sri William Cheng acquired 33.5 million shares of Lion Industries Corp Bhd at the exercise price of RM1.29 per share from Megasteel Sdn Bhd.

Lion Industries said on Monday, March 22 the acquisition of the shares was the remaining stake he was to acquire from Megasteel under a put option of 51 million shares.

He had on Dec 23, 2009 acquired 17.5 million shares also at RM1.29.

Under the terms of the proposed disposal, Cheng was required to complete the acquisition of 51 million shares, representing 50% of the 102 million shares under the put option, by March 31.

Comment: Maybe a reason why Mr. Cheng has been selling so many shares in Parkson.

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