Innotek

Innotek: Substantial shareholder in talks regarding share transaction Innotek shares have been charging up from its early May low of $0.285, delivering a whopping 35% gain to date. In response to SGX’s query regarding the recent unusual volume movements of its shares, Innotek says its substantial shareholder Gazelle Capital (5.6% stake) is in discussions regarding a transaction which may or may not result in an offer for shares of the company. The discussions remain very preliminary. Separately, just a few weeks ago, InnoTek highlighted that it is disposing its investment of 15m units in Sabana REIT, which it acquired in 2010 at the IPO price of $1.05/unit. The share sale will be disposed over a period of time, and a financial institution has been appointed to invest the estimated $15.8m of proceeds into other financial instruments including dividend stocks, bonds and different sectors of REITs.