Wednesday, 30 July 2014
Matrix Got A New Major Shareholder
Matrix's share price closed at RM2.97 last week, 5 million shares are worth RM14.85mil.
This is the amount that Dato Lee Tian Hock, Matrix's founder, chairman & CEO, donated to a school in Port Dickson last week.
Why did he donate shares instead of cash?
I think it is because he knows that Matrix's shares will increase in value in the future!
Furthermore, with its higher than FD's dividend, the schools can get quite a big sum of "recurring income" every year.
In my opinion, Dato Lee is a real generous and humble man, he didn't announce the news himself. He also uses his wife's name to donate another RM1mil cash to the school.
So I don't think he will donate overvalued shares that are likely to fall in price soon.
At shareholding of 1.1% (5 million shares), this school will definitely appear in the top 30 shareholders list as long as it doesn't sell.