On November 21, according to documents disclosed by the Hong Kong Stock Exchange on November 21, Prime Era Holdings Limited increased its OTC holdings by HK$0.138 per share on November 21 at an average price of HK$0.138 per share$MI MING MART (08473.HK)$20 million common stock shares, worth approximately HK$2.76 million. After increasing its holdings, the latest number of shares held by Prime Era Holdings Limited was 562 million shares, and the good position ratio rose from 48.39% to 50.18%.
This transaction involves other related parties: Lin Yuyang and Yuan Miming.
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.