Asdew Acquisitions, a high-profile investor, has acquired a stake in lithium miner, Alliance Mineral Assets (AMA), just weeks before it starts production in its project in Western Australia.

Asdew bought 19 million shares at 30 cents apiece from the controlling shareholder, Living Waters Mining (Australia), which is the vehicle of CEO Tjandra Pramoko and his wife, Simone Suen, an executive director of AMA.

Following the married deal, announced this evening, Living Waters Mining owns a 12.08% stake (67.1 million shares) in AMA, down from 15.49%.

Asdew's purchase amounts to a 3.4% stake but it is not known if it has shares of AMA bought in earlier times.

Its 30-cent purchase is already in the money as the stock closed at 41 cents today.

Asdew is controlled by Alan Wang, formerly the head of research of Kim Eng Securities as well as a former director of Kim Eng Holdings (1995 to 2004).

He 
is not new to the shareholder registry of AMA as he held 14.5 million shares, or a 4.5% stake, just prior to AMA's IPO in 2014. That made him the No.3 largest shareholder then.

In recent months, Asdew has snapped up blocks of shares placed out by three listcos and would be sitting on tidy sums of profit if it has not flipped the shares:

Recent purchases by Asdew Acquisitions

Date

Stock

Quantity

Placement Price

Today’s price

Oct 2017

Oxley Holdings

Unknown

53.6 c (adjusted for bonus issue)

69.5 c

Oct 2017

Trendlines Group

Unknown

14.03 c

14.8 c

May 2017

China Sunsine

Unknown

64.6 c

$1.12

Sources: Company press releases

 
BaldHill 12.17At Bald Hill project: Alliance Mineral Assets is about to become Australia's 4th producer of lithium and tantalum concentrates. Photo: Company

 
The shares were transferred on Monday (29 Jan) but the deal was signed on 12 Jan 2018.

Presumably there was a lot more paperwork than usual to settle before the share transfer.

The sale shares were part of 46,074,788 frozen shares subject to an injunction order, which has been lifted with the consent of Jonathan Lim and Grande Pacific.

Separately, the court Sheriff has also released the 40,029,786 shares of Living Waters Mining that were seized by Jonathan Lim and Grande Pacific pursuant to the execution proceedings under a writ of seizure and sale.


Share Prices

Counter NameLastChange
AEM Holdings1.020-0.020
Alliance Mineral0.184-0.007
Anchor Resources0.026-
AusGroup0.034-0.001
Avi-Tech Electronics0.295-0.005
Best World Int.3.250-0.020
China Sunsine1.300-0.010
CSE Global0.460-0.010
Food Empire0.5350.005
Geo Energy0.194-0.001
Golden Energy0.245-0.005
GSS Energy0.121-0.002
HMI0.570-0.005
ISDN Holdings0.210-
KSH Holdings0.5300.010
Miyoshi0.0470.002
Moya Asia0.081-0.003
Nordic Group0.380-0.010
Oxley Holdings0.3200.010
REX International0.090-0.003
Riverstone1.1300.010
Roxy-Pacific0.395-0.020
Sing Holdings0.390-
SingMedical0.445-0.010
Sino Grandness0.062-0.001
Straco Corp.0.7750.035
Sunningdale Tech1.560-0.010
Sunpower Group0.525-0.005
The Trendlines0.101-0.001
Tiong Seng0.280-0.005
Uni-Asia Group1.190-
XMH Holdings0.170-0.020
Yangzijiang Shipbldg1.400-0.020

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