On July 8, GCCP Resources $ GCCP: 41T 0% non-executive independent director Pay Cher Wee acquired 1,009,700 shares of the Catalist-listed company at 1.8 cents per share.

 

With a consideration of S$18,175, the acquisition increased his total interest from 2.29 per cent to 2.36 per cent.

 

This followed his acquisition of 300,000 shares at 1.9 cents per share on June 16.

 

Mr Pay has more than 25 years of experience in the audit, manufacturing, supply chain management, healthcare and private equity investment sectors.

 

He is also currently the CFO of Jurong Port.

 

Mr Pay was appointed to the board of GCCP Resources on March 1, 2016.

 

The company noted in May that its Gridland Quarry' s production and sales was slowly picking up and although sales still remain low in Q1FY21 (ended March 31), management expected business activities and sales to pick up to some form of normalcy by Q2FY21.

 

In June, the placement of 93,750,000 new ordinary GCCP Resources shares to Wen International, at a price of S$0.016 per placement share was completed.

 

With a consideration of S$1.5 million, this took the direct interest of Wen International in GCCP Resources from 6.58 per cent to 12.8 per cent.