Nam Tai said it will not receive any proceeds from the sale of the shares by the selling shareholders, who include its chief financial officer, M.K. Koo. He plans to sell 1.8 million of the 6.9 million shares he currently holds, according to the SEC filing.
Other selling shareholders include Chairman Tadao Murakami, who is offering 750,000 of his 2.2 million shares, the filing added.
Total Insider Shares Held: 19.29 M
Net Shares Purchased (Sold): 2,269,000 % Change in Institutional Shares Held: 14.0%
11:03am 07/30/03 Siemens lower amid plans to cut 2,300 mobile jobs (SI) By Emily Church LONDON (CBS.MW) -- Shares of German conglomerate Siemens (SI) were down 0.6 percent in Frankfurt after the company set plans to cut 2,300 jobs, including 500 in Germany, in its Information and Communication Mobile unit by end-September 2004 as part of a plan to cut costs by 1 billion euro. "The world market for mobile communication networks had already declined by 15 percent last year. This year, the market will contract by up to 20 percent. Moreover, sales in the mobile phone market are stagnating, in spite of higher volumes. Business at all players is under considerable pressure on margins," Siemens said. "Siemens mobile's market is characterized by declining prices, overcapacities and investment hesitancy on the part of mobile operators."