China Press - Glove tycoon Lim Wee Chai purchase 8.5 percent stake of Tropicanan Lim Wee Chai purchase 8.5 percent stake of Tropicana

Kuala Lumpur, 25 October 2017 – Executive Chairman of Top Glove Corp. Bhd. (TOPGLOV, 7113, main market, industrial products), Tan Sri. Lim Wee Chai has purchased 8.5% stake in Tropicana and appointed as Non-Independent Non-Executive Deputy Chairman.

Tropicana shares rose by 8 sen, open market at RM 1.01 and close at 98.5 sen, which then drop to 5.5 sen at 3,083,100 shares being traded.

Top Glove increased highest 17 sen

During the opening market, Top Glove shares increased 17 sen or 2.6% to RM 6.56, achieved record high in these 3 months. The shares reported 6.49 sen, increased 10 sen with 882,500 shares being traded.

Top Glove increased 6 sen, close at RM 6.45 with 2,339,200 shares being traded.

In a filling with Bursa Malaysia yesterday (24 October 2017), the property developer said Tan Sri Lim, has snapped up an additional 8.5% stake, RM 124.59mil in Tropicana, making him a substantial shareholder with about 10.24%, RM150.09mil, direct shareholding in the group. Meanwhile, he also appointed as Non-Independent Non-Executive Deputy Chairman, effective Tuesday (24 October 2017).

[Picture Caption] Tan Sri Lim Wee Chai appointed as Tropicana’s Non-Independent Non-Executive Deputy Chairman.