On September 19, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on September 19, Sharp Talent Holdings Limited increased its holdings at an average price of HK$0.096 per share on September 15$CHI HO DEV (08423.HK)$50,000 common shares worth approximately HK$4,800. After the increase in holdings, the latest number of shares held by Sharp Talent Holdings Limited was 568 million shares, and the ratio of good positions rose from 70.94% to 70.95%.
This transaction involves another related party: Leung Ka-ho.
Additional information: Mr. Leung Ka Ho Raymond joined a concert party group by musicians into an concert agreement with Mr. Ho Chi Kwan on November 11, 2016. Sharp Talent Holdings Limited, Controlled by Mr. Leung, and Diamondfield Holdings Limited, Controlled by Mr. Ho, are also part of this group. According to the SFO, Sharp Talent Holdings Limited is interested to have an interest in the shares of Chi Ho Development Holdings Limited held by other concert party members.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.