Chairman records first buys in Aztech Group (AVZ-AZ.SP) since Feb 2015 on 64% rebound
Chairman & CEO Michael Mun Hong Yew recorded his first on-market trades in electronics and LED lighting products designer and manufacturer Aztech Group Limited (AVZ-AZ.SP) [MKT CAP 20.4M] since February 2015 with 1.64 million shares purchased from September 21 to 26 and a further 48,000 shares on October 7 at an average of $0.418 each [AI SCORE 5.9; 3MTH -4%(29%)/6MTH +14%(56%) 34 BUYS-1994]. The trades, which accounted for 72% of the stock's trading volume, increased his deemed holdings by 464% to 2.052 million shares or 4.22% of the issued capital. He also has direct interest of 11.636 million shares or 23.939%. The purchases were made after the stock rebounded by 64% from $0.255 on September 2. Despite the rebound in the share price, the counter is still down since May 2015 from $1.20. Prior to his purchases this year, the Chairman acquired 6,000 shares in February 2015 at $1.30 each, 443,000 shares from February 2007 to June 2009 at $4.30 to $1.00 each or an average of $1.45 each and 28,000 shares from February to December 2004 at $1.60 to $0.90 each or an average of $1.07 each. The Company announced in July a 2Q loss of $10.564 million for the 3 months to 30 June 2016 versus a profit of $1.0 million in the same quarter last year. Loss in 1H was $11.636 million versus a profit of $2.218 million in the same period last year. The counter was trading at $0.42 on October 11 (Asia Insider News Oct 11, 2016).
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