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Sustained Buying of Warrants by Insiders Signals Further Upside

 

The warrants of Formis Resources Berhad, especially the more active FRB-WA, have attracted interests from investors following disclosures that the directors and major shareholders are adding their warrants’ stake.  According to announcement to Bursa Malaysia, the company’s Managing Director cum Group Chief Executive Officer Dato’ Gan Nyap Liou @ Gan Nyap Liow, has bought a total of 1.2 million FRB-WA between 19 September and 4 October 2013.  Gan had earlier accumulated a total of 1.78 million of FRB-WB in direct interest between the middle of June and early September.  Another director of the company Monteiro Gerard Clair also added FRB-WB to his stake in early October.

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