Wei acquires more REDtone shares from ACE market

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KUALA LUMPUR (Oct 7): ACE Market-listed REDtone International Bhd’s Managing Director Datuk Wei Chuan Beng has acquired 435,100 shares of the company from ACE market today, raising his holdings to a direct interest of 25.96 million shares or a 5.05% stake.

In a filing to Bursa Malaysia today, the broadband player said Wei also has an indirect interest of 4 million shares or 0.77%.

It is worth noting that Wei had been acquiring more shares in REDtone since last week.

Wei’s purchase came after a recent REDtone announcement that its external auditor, Messrs Crow Horwath, had expressed a qualified opinion on the company’s audited financial statement for the financial year ended May 2014, in respect to a debt owed by a third party.

REDtone dipped 0.64% to end at 77.5 sen today, giving it a market capitalisation of RM393.18 million.