It was reported on August 4 that according to documents disclosed by the Hong Kong Stock Exchange on August 4, SMART EXCEL GROUP LIMITED (SMART EXCEL GROUP LIMITED) sold OTC at an average price of HK$0.216 per share on August 2$DIMMI LIFE HLDG (01667.HK)$277 million common shares with a value of approximately HK$59,9184 million. After the sale, the latest number of shares held by SMART EXCEL GROUP LIMITED (SMART EXCEL GROUP CO., LTD.) was 443 million shares, and the ratio of good positions dropped from 75.00% to 46.10%.
This transaction involves another related party: Hou Ling Ling.
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.