Asdew Acquisitions, a high-profile investor, has acquired a stake in lithium miner, Alliance Mineral Assets (AMA), just weeks before it starts production in its project in Western Australia.

Asdew bought 19 million shares at 30 cents apiece from the controlling shareholder, Living Waters Mining (Australia), which is the vehicle of CEO Tjandra Pramoko and his wife, Simone Suen, an executive director of AMA.

Following the married deal, announced this evening, Living Waters Mining owns a 12.08% stake (67.1 million shares) in AMA, down from 15.49%.

Asdew's purchase amounts to a 3.4% stake but it is not known if it has shares of AMA bought in earlier times.

Its 30-cent purchase is already in the money as the stock closed at 41 cents today.

Asdew is controlled by Alan Wang, formerly the head of research of Kim Eng Securities as well as a former director of Kim Eng Holdings (1995 to 2004).

He 
is not new to the shareholder registry of AMA as he held 14.5 million shares, or a 4.5% stake, just prior to AMA's IPO in 2014. That made him the No.3 largest shareholder then.

In recent months, Asdew has snapped up blocks of shares placed out by three listcos and would be sitting on tidy sums of profit if it has not flipped the shares:

Recent purchases by Asdew Acquisitions

Date

Stock

Quantity

Placement Price

Today’s price

Oct 2017

Oxley Holdings

Unknown

53.6 c (adjusted for bonus issue)

69.5 c

Oct 2017

Trendlines Group

Unknown

14.03 c

14.8 c

May 2017

China Sunsine

Unknown

64.6 c

$1.12

Sources: Company press releases

 
BaldHill 12.17At Bald Hill project: Alliance Mineral Assets is about to become Australia's 4th producer of lithium and tantalum concentrates. Photo: Company

 
The shares were transferred on Monday (29 Jan) but the deal was signed on 12 Jan 2018.

Presumably there was a lot more paperwork than usual to settle before the share transfer.

The sale shares were part of 46,074,788 frozen shares subject to an injunction order, which has been lifted with the consent of Jonathan Lim and Grande Pacific.

Separately, the court Sheriff has also released the 40,029,786 shares of Living Waters Mining that were seized by Jonathan Lim and Grande Pacific pursuant to the execution proceedings under a writ of seizure and sale.


Share Prices

Counter NameLastChange
AEM Holdings1.570-4.240
Alliance Mineral0.370-0.005
AusGroup0.047-
Avi-Tech Electronics0.4150.005
Best World Int.1.2600.010
China Sunsine1.6100.020
DISA Limited0.009-
Dutech Holdings0.300-
Federal Int. (2000)0.265-0.020
Food Empire0.675-
Geo Energy0.240-
Golden Energy0.3750.010
GSS Energy0.1520.001
Heeton Holdings0.565-0.005
ISOTeam0.3600.005
KSH Holdings0.645-0.010
Lian Beng Group0.635-
Miyoshi0.063-
Nordic Group0.535-0.005
Oxley Holdings0.4700.005
REX International0.051-
Riverstone0.9950.025
Roxy-Pacific0.515-
Serial System0.166-
Sing Holdings0.440-
Sino Grandness0.215-0.005
Straco Corp.0.770-0.005
Sunningdale Tech1.2700.020
Sunpower Group0.5000.015
The Trendlines0.1290.006
Tiong Seng0.405-
Trek 2000 Int.0.144-
Uni-Asia Group1.3900.010
XMH Holdings0.300-
Yangzijiang Shipbldg1.060-0.050

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