On December 22, according to documents disclosed by the Hong Kong Stock Exchange on December 22, Gao Weiming increased his holdings by an average price of HK$0.126 per share on December 22$TRAVEL EXPERT (01235.HK)$15,000 common stock shares, worth approximately HK$1,890. After increasing his holdings, Gao Weiming's latest shareholding number was 371 million shares, with a good position ratio of 72.70%.
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.