Sales by Non-ED in Pa Shun Pharma (574.HK) since Aug account for 32% of volume
Sales by Non-Executive Director Li Ho Tan in pharmaceutical and healthcare products distributor Pa Shun Pharmaceutical International Holdings Limited (574.HK) [MKT CAP 580M] since August totaling 59.97 million shares accounted for 32% of the stock's trading volume. The disposals were made from August 1 to September 29 at $0.50 to $0.85 each or an average of $0.678 each. The director sold shares on 36 out of the 42 trading days during that period. He last sold 13.64 million shares from September 26 to 29 at an average of $0.62 each [AI SCORE 4.1; 3MTH -19%(80%)/6MTH -42%(100%) 5 SELLS-2015], which reduced his holdings by 9% to 130.372 million shares or 13.04% of the issued capital. Aside from his sales since August, the Director sold a net 6.98 million shares from June 2 to July 20 at $0.72 to $0.55 each or an average of $0.64 each. The transactions since June were made on the back of the rebound in the share price since March from $0.50. Despite the rebound in the share price, the counter is still down since October 2015 from $1.06. Prior to his trades since June, Mr. Li sold 16 million shares in September 2015 at $0.95 to $0.88 each or an average of $0.93 each and 4.9 million shares in June 2015 at $2.11 each. The transactions by Mr. Li since June 2015 are the first corporate shareholder trades in the Company since the stock was listed in June 2015. The director's last sale price was lower than the IPO price of $1.40. The Company announced its 1H results on August 31 with profit attributable to shareholders down by 59.4% to RMB 33.688 million for the 6 months to 30 June 2016. The counter was trading at $0.57 on October 4 (Asia Insider News Oct 4, 2016).
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