The Straits Times / The Business Times News on GMG

Panwell reduces stake in GMG Global By Amit Roy Choudhury Oct 28, 2005 The Business Times PANWELL Pte Ltd has disposed 70 million shares in GMG Global, an investment holding company, at 2.5 US cents a share. The disposal of the 3.46 per cent stake - held in the name of UOB Kay Hian - reduced Panwell's stake to 17.91 per cent from 21.37 per cent. The transaction saw the deemed stake of GMG's directors Jeffrey Gobdobintoro and Yudson Gondobintoro trimmed to 65.87 per cent and 65.66 per cent respectively, from 69.34 per cent and 69.12 per cent. Mr Gondobintoro's direct interest in the company is 0.36 per cent or 7.32 million shares. Mr Gobdobintoro's direct interest is 0.01 per cent. GMG Global shares were unchanged at 2.5 US cents yesterday.