On January 3, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on January 3, Yao Jigen increased his holdings at an average price of HK$0.146 per share on March 31, 2023$ASIA RESOURCES (00899.HK)$77.038 million common shares worth approximately HK$11.2426 million. After the increase in holdings, Yao Jigen's latest shareholding was 86.7038 million shares, and the good position ratio increased from 1.03% to 9.24%.
This transaction involves another related party: Feng Ming.
Additional information: The actual final beneficiaries of FULL TENDA DEVELOPMENT LIMITED on the date of the incident, March 31, 2023 were Yao Jigen and Feng Ming each having 50% control percentage; Yao Jigen personally bought 97 million shares of the shares on July 29, 2022 and the listed company merged shares on October 14, 2022, so Yao Jigen personally held 9.7 million shares of the listed company.What is disclosure of interests?
As required by the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares) are required to disclose their share interests in listed companies. The directors and top executives of a listed company must disclose their interest in shares and debentures of the listed company and the company 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 interest in shares of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.