CEO spent millions of his personal finances on pur
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Posted On: 08/16/2022 10:04:28 AM
CEO spent millions of his personal finances on purchasing company shares.
Since the company went public, Yat-Gai, the CEO of Regencell Bioscience $RGC, has noticed that short and distort organizations or individuals are starting to affect their stock price and sentiment.
"Companies like ours are not given the opportunity to prove themselves since the culprits are driving down the value of smaller companies, causing the market and general public to lose its confidence. This causes damage to our company, particularly the patients, some who are desperate for a solution," he said.
To help mitigate the negative effects of such short-term schemes, Yat-Gai managed to purchase more than $5.9 million worth of ordinary company shares. To date, Yat-Gai Au is the majority shareholder, with an 81% stake in the company. This leaves around 19% of shares owned by other shareholders.
"To date, I have spent millions of my personal finances on purchasing RGC shares. My most recent purchase was worth $886,000 of RGC shares at an average price of US$39.48, increasing my shareholdings by 0.2%. I believe in the company and its future and intend to continue to put my money where my mouth is and increase my shareholdings."
Seeing as majority ownership is held within the company, oftentimes referred to as 'Insider Ownership,' it allows them to have better control over critical decision-making issues that can help fast-track the company's overall development goals.
"The decision to repeatedly purchase RGC shares over the last several months is to support and ensure the potential of the company can be met for years to come. We've vested a lot of time, energy, and resources in Regencell, and we're well aware of the potential difference it can make in the field of alternative medicine. I believe that as I lead the way our company will be able to meet the goals we've set out to achieve within the coming years."
The long-term transactions not only give the company better control over critical decision-making but enables them to boost investor sentiment.
https://www.ibtimes.com/regencell-ceo-shares-...ed-3600337
Since the company went public, Yat-Gai, the CEO of Regencell Bioscience $RGC, has noticed that short and distort organizations or individuals are starting to affect their stock price and sentiment.
"Companies like ours are not given the opportunity to prove themselves since the culprits are driving down the value of smaller companies, causing the market and general public to lose its confidence. This causes damage to our company, particularly the patients, some who are desperate for a solution," he said.
To help mitigate the negative effects of such short-term schemes, Yat-Gai managed to purchase more than $5.9 million worth of ordinary company shares. To date, Yat-Gai Au is the majority shareholder, with an 81% stake in the company. This leaves around 19% of shares owned by other shareholders.
"To date, I have spent millions of my personal finances on purchasing RGC shares. My most recent purchase was worth $886,000 of RGC shares at an average price of US$39.48, increasing my shareholdings by 0.2%. I believe in the company and its future and intend to continue to put my money where my mouth is and increase my shareholdings."
Seeing as majority ownership is held within the company, oftentimes referred to as 'Insider Ownership,' it allows them to have better control over critical decision-making issues that can help fast-track the company's overall development goals.
"The decision to repeatedly purchase RGC shares over the last several months is to support and ensure the potential of the company can be met for years to come. We've vested a lot of time, energy, and resources in Regencell, and we're well aware of the potential difference it can make in the field of alternative medicine. I believe that as I lead the way our company will be able to meet the goals we've set out to achieve within the coming years."
The long-term transactions not only give the company better control over critical decision-making but enables them to boost investor sentiment.
https://www.ibtimes.com/regencell-ceo-shares-...ed-3600337
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