Osim founder Ron Sim sold 22,074,000 shares, about 7.3% of Trek 2000 International, to Azure Capital, reducing his stake from 9.3% to 2% and ending his status as a substantial shareholder [1, 2, 3, 4]. The share purchase agreement was signed on May 11, 2026, and completed on May 26, 2026. Azure Capital paid over S$2.6 million, or roughly S$0.12 per share [2, 3, 4].
Following the announcement, Trek 2000 shares surged sharply, climbing 41.5% to close at S$0.29 on May 29, 2026 [3, 4]. One source noted a 26.8% jump on the morning after the announcement, while others recorded the final day gain [2, 3, 4].
Sim and Osim also confirmed they would no longer pursue previously filed legal claims against Trek 2000, its executive chairman Wayne Tan, and former chairman Henn Tan. The claims alleged fraudulent misrepresentations by Henn Tan during Sim's 2015 purchase of Trek shares and unfair treatment of Sim as a minority shareholder [1, 2, 3, 4].
Henn Tan resigned in 2018 and was sentenced in 2022 to 16 months in jail for accounting fraud that concealed Trek's true financial performance [1, 2, 3, 4].
Trek 2000 said its patented wireless memory technologies support AI-driven, high-performance data applications, forming part of its growth strategy [1, 2, 3, 4]. Executive chairman Wayne Tan said the board and management remain focused on expanding memory, AI, and renewable energy solutions [2]. Terence Wong, founder and CEO of Azure Capital, said, "Trek has delivered a step up in profitability. The company’s patented wireless memory technologies position it to participate in the growing demand for high-performance, data-intensive applications driven by the adoption of artificial intelligence" [1].
Other major shareholders include Wayne Tan, Kioxia Corporation, CTI II, and Creative Technology [1, 2, 3, 4].
The transaction and legal withdrawal mark the latest development in a dispute dating back to 2015 when Sim and Osim purchased Trek shares relying on representations by Henn Tan. The sale to Azure Capital and cessation of legal action took place in May 2026 [1, 2, 3, 4].
