David Lum has been accumulating shares in Ellipsiz. He became A NEW substantial shareholder after its chief executive Chan Wai Leong sold 100 million of his shares for S$15 million to David.
David is MD of Lum Chang Holdings but strangely has taken a big stake in Ellipsiz, ie 21.89 per cent while Ellipsiz CEO Chan owns less than 2% currently.
It has recently entered into a non-binding letter of intent (the “LOI”) with a third party to explore further such an opportunity concerning certain assets of the Group (the “Potential Transaction”).
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