Suspended director Dino Ng continues selling down warrants of REVENUE 0200 REVENUE GROUP BERHAD

Suspended director Dino Ng continues selling down warrants of  REVENUE 0200 REVENUE GROUP BERHAD

Dino Ng Shih Fang (Photo credit: revenue.com.my)

KUALA LUMPUR (Jan 6): Revenue Group Bhd’s suspended executive director Dino Ng Shih Fang has continued to sell down warrants, leaving him with only 1.75% or 2.74 million of the total warrants issued in the company.

From Jan 3 to Jan 5, Ng had disposed a total of 20.54 million or 13.12% of total issued warrants at prices between seven sen and 15.84 sen a piece, valued at some RM2.32 million in total.

In a filing on Friday (Jan 6), Revenue Group said Ng had disposed of 10 million or 6.73% of total issued warrants in two blocks of five million, at RM762,000 (15.24 sen a piece) and RM350,000 (seven sen a piece) respectively on Wednesday (Jan 4). The day after (on Thursday, Jan 5), he disposed of another 539,100 warrants at 12 sen a piece or RM64,692 in total.

On Tuesday (Jan 3), Ng had disposed of 10 million or 6.39% of total issued warrants in two blocks of five million, at RM792,000 (15.84 sen a piece) and RM350,000 (seven sen a piece) respectively.

As of Friday, Ng holds only 1.75% or 2.74 million of total issued warrants, which rose 13.64% to 12.5 sen after dropping by as much as 26.7% to 11 sen the day before.

Revenue Group’s share price fell 28.15% to 48.5 sen on Thursday, after it announced that Ng (Dino) and his brother Brian Ng Shih Chiow, who is also an executive director of the company, had allegedly seized company documents illegally.

The e-payment solutions provider claimed that Ng (Dino), along with four other unknown persons, had forced their way into the office building and left with 30 boxes of documents and items without permission from the group or its board of directors.

The pair was suspended on Wednesday, pending an investigation into “certain complaints” made against them.

Revenue Group’s share price rebounded slightly to close 5.15% or 2.5 sen higher at 51 sen on Friday, giving it a market capitalisation of RM244.11 million.

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