SCHEDULE 13D: Insider Boosts Stake in Graphjet Technology, Acquiring Nearly Half of Outstanding Shares

Aiden Lee Ping Wei, an advisor and former CEO of Graphjet Technology, has significantly increased his beneficial ownership to 48.9% of the company's Class A ordinary shares through recent share purchases and an employment agreement.

Summary

• Aiden Lee Ping Wei, an advisor to Graphjet Technology, has acquired beneficial ownership of 71,789,569 Class A ordinary shares.
• This represents 48.9% of the company's total outstanding shares, based on 146,741,306 shares outstanding as of October 31, 2024.
• The acquisition includes 62,904,719 shares purchased through three separate share purchase agreements on April 22, 2025, for an aggregate price of approximately RM 22,000 (Malaysian Ringgit).
• An additional 8,884,850 shares were acquired in connection with his employment with the Issuer, including pursuant to an employment agreement dated March 14, 2024.
• The shares were acquired for investment purposes, using personal funds for the purchased shares.

Sentiment

Score: 8

Explanation: The significant increase in beneficial ownership by a former CEO and current advisor suggests strong insider confidence and commitment to the company, which is generally a positive signal for investors.

Positives

• Significant increase in insider ownership (48.9% of outstanding shares) by a former CEO and current advisor, indicating strong confidence in the company's future.
• The reporting person intends to participate in the management of the Issuer through his service as an advisor.

Future Outlook

The Reporting Person acquired the shares for investment purposes and may, subject to ongoing evaluation of various factors, acquire additional securities or retain, transfer, gift, or sell portions of his shares in the future. He will continue to participate in the management of the Issuer as an advisor.

Management Comments

• The Reporting Person currently serves as an advisor to the Issuer.
• The Reporting Person is the former Chief Executive Officer of the Issuer and has engaged in discussions with senior management of the Issuer.
• The Reporting Person will participate in management of the Issuer through the Reporting Person's service as an advisor to the Issuer.

Industry Context

This filing primarily concerns a significant insider ownership change within Graphjet Technology and does not provide broader industry trends or competitive analysis.

Related Party Transactions

• Share Purchase Agreement with Lim Hooi Beng.
• Share Purchase Agreement with Aw Jeen Rong.
• Share Purchase Agreement with Liu Yu.
• Employment Agreement with the Issuer.

Stakeholder Impact

• Shareholders: Increased insider ownership may signal confidence and alignment of interests between management and shareholders.
• Management/Board: The Reporting Person's continued role as an advisor and significant shareholder suggests potential for active involvement in strategic decisions.

Next Steps

• The Reporting Person may acquire additional securities of the Issuer in the open market or privately negotiated transactions.
• The Reporting Person may retain, transfer, gift, or sell all or a portion of his shares.
• The Reporting Person will continue to participate in management as an advisor.

Key Dates

Keywords

Graphjet Technology, Schedule 13D, beneficial ownership, share purchase agreement, insider ownership, Class A ordinary shares, Aiden Lee Ping Wei, corporate governance, investment