Figtree Holdings sells Esme unit to director's daughter for A$1.4m

The price reflects a 1.67% discount from the unit's listed price.

Mainboard-listed Figtree Holdings, through its wholly-owned subsidiary Figminna Pty Ltd, has sold a unit at its Esme development project in Victoria, Australia, to the daughter of its managing director, Siaw Ken Ket (Danny Saw).

Siaw's daughter, Siaw Kai Shi Cassandra, purchased the unit for A$1.4m, reflecting a 1.67% discount from its listed price of A$1.42m.

"Such discount is extended to all employees of the Group who are interested in purchasing a unit in Esme," the company said.

The company added that its audit committee have approved the sale, saying that the terms of the sale are "fair and reasonable and are not prejudicial to the interests of the Company and its minority shareholders."