On January 18, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on January 18, Five Seasons XVI Limited was sold at an average price of HK$1.3578 per share on January 17$C TRANSMISSION (00658.HK)$2 million common shares worth approximately HK$2,715,600. After the sale, Five Seasons XVI Limited's latest shareholding was 1,176 million shares, and the good position ratio dropped from 72.05% to 71.93%.
This transaction involves another related party: Fullshare Holdings Limited.
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.