On December 28, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on December 28, Super Arena Limited increased its OTC holdings at an average price of HK$0.081 per share on December 21$PRIME INTEL (08379.HK)$108 million common shares worth approximately HK$8.748 million. After the increase in holdings, Super Arena Limited's latest shareholding was 118 million shares, and the good position ratio increased from 1.25% to 14.75%.
This transaction involves another related party: Sing Mung Michael Kor.
Additional information: On 21 December 2023, Super Arena Limited purchased into a sale and purchase agreement to which Super Arena Limited purchased 108,000,000 shares. COMPLETION OF THE SALE AND PURCHASE WILL BE SUBJECT TO FULFILMENT AND WAIVER (AS THE CASE MAY BE) OF THE CONDITIONS SET OUT IN THE SALE AND PURCHASE AGREEMENT.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.