On September 4, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on September 4, DGM Trust Corporation sold OTC at an average price of HK$0.0759 per share on August 29$ABC MULTIACTIVE (08131.HK)$356 million common shares worth approximately HK$27.016,600. After the sale, the latest number of shares held by DGM Trust Corporation was 0 shares, and the ratio of good positions dropped from 74.81% to 0.00%.
Supplementary information: Expectations to the sale and purchase agreement concluded 29 August 2023, Maximizer International Limited and Pacific East Limited (each being a controlled corporation of DGM Trust Corporation As Trustee of the Private Family Trust) As Trustee Sold A Total of 355,949,933 Shares Trustee Sold 74.81% of the Total Confidence Share Capital of the Listed Corporation to Bravo Merit Management Groups Limited as purchaser.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.