2 Kronologi executive directors emerge as substantial shareholders

By Digital News Asia June 15, 2017

Tan bought 55,129,768 shares making him the largest shareholder with a stake of 20.4%
Teo acquired 35,000,000 shares giving him a 13% stake in Kronologi

2 Kronologi executive directors emerge as substantial shareholders

KRONOLOGI Asia Bhd announced on June 14 that acting CEO Philip Teo and executive director Tan Jeck Min have become substantial shareholders of Kronologi following two recent transactions.

Teo, who has been with Kronologi since its inception and is also chief technology officer and executive director, acquired 35,000,000 shares from Piti Pramotedham, a major shareholder. The former now owns 35,250,000 shares, representing 13% of Kronologi.

Tan, who has been on the Board of Directors since October 2015, bought 55,129,768 shares from Piti, making him the largest shareholder of Kronologi, with a stake of 20.4%.

Following the transactions, Piti owns 35,548,200 shares, representing a 13.1% stake, compared to 46.5% previously.

The Board recognises the respective decisions of Teo and Tan to acquire substantial shareholdings in Kronologi and is confident that under the executive management team’s leadership, the group will continue to make substantial progress across Asia as it seeks to offer its data storage and protection solutions to more companies in the region.