Global Yellow Pages

Global Yellow Pages: The ‘Popiah King’ effect continues with Sam Goi emerging as a substantial shareholder in Global Yellow Pages (GYP), after the group announced a proposed placement of 99.9m new shares to two investors, in a bid to raise $7.6m. The proceeds will be used by GYP to fund future acquisitions and business expansion, as well for general working capital. The proposed placement price at 7.61c per share represents a 10% discount to the last done price of 8.5c, and will see Mr Sam Goi subscribe 76.7m shares (12.8% of new enlarged share base and valued at $5.8m) via private vehicle Oregold. The other 23.2m shares comprising of 3.87% of the new total share base and valued at $1.8m will be subscribed by Cluny Capital. GYP note that Mr Sam Goi brings with him deep experience of running successful businesses especially in the areas of food and property and together with the collective experience of its board and management, believe that the opportunities that Mr Goi brings will catalyze GYP's ability to grow and diversify its businesses for the benefit of all shareholders In light of the latest developments, we do not rule out the possibility of renewed interests into the host of companies which Mr Goi has stakes in, whose share purchases have typically been closely monitored by market watchers. Other SGX companies which Mr Sam Goi has built stakes in, include the likes of GSH, Yamada, Serial System, Etika and JB Foods.