$Geo Energy Res (RE4.SG)$ Some 2 months ago, Geo Energy Reso...

Some 2 months ago, Geo Energy Resources delivered an unusual piece of news: A Swiss fund had committed to buy US$35 million worth of its equity. This would be executed through purchases on the open market and via treasury shares from Geo Energy.

Fast forward to 28 Mar: Geo posted a stock exchange filing saying that the Swiss fund, Resources Invest, had indeed become a substantial shareholder with close to 82 million shares of Geo, or a 5.8% stake. Based on 0.45/ share for 14.9 m treasury shares and an assumed 0.35/share average for the remaining 67.1 m open market shares, the total consideration was S$30 million or so.It will not stop there. As announced previously, Resources Invest intends to buy another tranche of treasury shares in Mar 2025 for US$5 million, which is 0.50 per share.