On May 31, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 31, Cai Qi increased his holdings by an average price of HK$0.0345 per share on May 25$PHOENITRON HOLD (08066.HK)$555,000 common shares worth approximately HK$19,000. After the increase in holdings, the latest number of shares held by Cai Qiyuan was 100 million shares, and the ratio of good positions rose from 18.94% to 19.04%.
The transaction involved other related parties: Golden Dice Co. LIMITED.
What is disclosure of interests?
According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares) are required to disclose their shareholding interests in listed companies. The directors and top executives of a listed company are required to disclose their interests in the shares and debentures of the listed company and companies linked to the listed company.
Why is disclosure of interests important?
Disclosure of interests allows investors to identify (1) persons who control or are capable of controlling the stock interests of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.