On March 5, 2015, I said that I was expecting some corporate deals from QAF.
And, on March 18, 2015, QAF's Executive Director and Head of Treasury, Ms Tarn Teh Chuen, sold 245,000 QAF shares at S$1.12.
It didn't make sense to me that Ms Tarn should be selling the shares of QAF if there were to be some corporate deals in the near future, and to be more precise, just before the next AGM at the end of April, 2015 as what I have said.
Well, today, we've got the answer.
It has just been announced that, yesterday, April 7, 2015, Ms Tarn exercised her Employee Share Options, for 250,000 shares at S$0.513 and 250,000 shares at S$0.565 (see SGX announcement).
Sale: 245,000 * S$1.12 = S$274,400
Purchase: 250,000 * S$0.513 + 250,000 * S$0.565 = S$269,500
It all makes sense now.
Ms Tarn had sold 245,000 shares at a higher price in exchange for 500,000 shares at lower prices.
So, the deals are still on?! :D
I expect QAF to announce the date of release for the 1Q2015 financial results, and also to distribute the 2014 Annual Report, within this week.
If there were to be any corporate deal, I expect it to be announced after the announcement of the 1Q2015 results, but before the next AGM at the end of the month (April, 2015).