On December 19, according to documents disclosed by the Hong Kong Stock Exchange on December 19, DAVID MICHAEL WEBB increased its holdings by HK$0.241 per share on December 13 at an average price of HK$0.241 per share$TUNGTEX (HOLD) (00518.HK)$400,000 common stock shares, worth approximately HK$96,400. After the increase in holdings, DAVID MICHAEL WEBB's latest number of shares held was 587.48,000 shares, and the good position ratio rose from 12.93% to 13.02%.
What is disclosure of interests?
As required by the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of shares) are required to disclose their share interests in listed companies. The directors and chief executives of a listed company are required to disclose their interests in shares and debentures in the listed company and companies associated with the listed company.
Why is disclosure of interests important?
Disclosure of interests enables investors to identify (1) persons who control or have the ability to control the shares of a listed company, and (2) persons who may benefit from transactions involving associated entities of the listed company.