Graphjet expertise director sells shares valued at $1.3 million

Doris Wong Sing Ee, a director at Graphjet Know-how (NASDAQ:GTI), just lately offered 600,000 Class A Extraordinary Shares, in accordance with a Kind 4 submitting with the Securities and Trade Fee. The shares had been offered at a mean value of $2.17 per share, leading to a complete transaction worth of roughly $1.3 million. The inventory, which has declined over 85% year-to-date in accordance with InvestingPro information, presently trades at $1.67, considerably beneath the insider sale value. Following this sale, Wong Sing Ee holds 579,900 shares immediately within the firm. The transaction was executed in a number of trades with costs starting from $2.05 to $2.61 per share. With a market capitalization of $304 million and a weak monetary well being rating in accordance with InvestingPro evaluation, the corporate seems overvalued at present ranges. Traders ought to observe that GTI’s subsequent earnings report is due in simply 2 days.

In different latest information, Graphjet Know-how has been making vital strides with key developments in its operations. The corporate has promoted Mr. Liu Yu to the roles of Chief Working Officer (COO) and Chief Scientific Officer (CSO), leveraging his 20 years of expertise to steer manufacturing operations and enterprise development. As a part of his tasks, Mr. Liu can even proceed to steer technological developments inside the firm.

Graphjet Know-how has additionally made developments in sustainable and environment friendly manufacturing practices, demonstrated by the acquisition of three ISO certifications from ARES Worldwide. These certifications embody ISO 14001:2015 for environmental administration, ISO 9001:2015 for high quality administration, and ISO 45001:2018 for occupational well being and security administration. Moreover, the corporate has secured a patent in Malaysia for its modern course of of reworking palm kernel shells into graphene, strengthening its mental property portfolio.

By way of company governance, Graphjet Know-how introduced a change in its impartial registered accounting agency, with Adeptus Companions LLC resigning. Nonetheless, no disagreements had been reported between the corporate and Adeptus concerning monetary statements or accounting rules. The corporate additionally regained compliance with Nasdaq’s itemizing necessities after a short interval of non-compliance resulting from a delayed quarterly report.

These latest developments underscore Graphjet’s dedication to operational excellence and compliance. As the corporate continues to guarantee stakeholders of its dedication to well timed filings, analysts from numerous corporations proceed to watch these developments carefully.

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