Kelvin Lim Ching Song, the former executive director and CEO of IPS Securex, has pared his stake in the company to 9.39% from 10.29%.
Lim sold his shares via the market on two occasions.
On Jan 2, Lim sold 3.27 million shares for $45,971.98 or 1.41 cents apiece. The move reduced his stake to 9.62% from 10.29% before. On Jan 3, Lim sold another 1.1 million shares for $14,300 or 1.3 cents per share, paring his stake to 9.39%.
Lim’s direct interest includes 130,000 ordinary shares that are held under UOB Kay Hian Nominees Pte. Ltd.
IPS Securex announced Lim’s resignation from his roles as executive director and CEO on May 8, 2024. According to the filing, Lim was leaving to pursue his personal interests and spend more time with his family. Lim then served a notice period till Nov 3, 2024.
Lim was the company’s executive director and CEO from Oct 10, 2013.
IPS Securex appointed Boey Teik Heng as its acting CEO in September 2024.
Shares in IPS Securex closed 0.1 cents lower or 7.69% down at 1.2 cents on Jan 6.
Update
Lim, on Jan 6, disposed of another 2.26 million shares for $27,146.40 or 1.2 cents each via the open market. His latest transaction has further reduced his stake to 8.93% per a Jan 7 filing by IPS Securex.
