On September 4, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on September 4, Yip Ka-wai sold OTC on August 29 at an average price of HK$0.28 per share$MTT GROUP (02350.HK)$50 million common shares worth approximately HK$14 million. After the sale, the latest number of shares held by Yip Ka-wai was 419 million shares, and the ratio of good positions dropped from 75.00% to 67.00%.
This transaction involves another related party: Peiwen Huang.
Additional information: On 28 August 2023, Ip Ka Wai Charlie (as vendor) has purchased into a conditional sale and purchase agreement with an independent third party (as purchaser) in relation to the purchasing of The Entire Retreat Shares of IPW Group Holdings Limited (the “Promises”), which in turn is Beneficiaries in 50,000,000 Shares of MTT Group Holdings Limited. On 29 August 2023, The Beginners has been completed.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.