It was reported on February 1 that, according to documents disclosed by the Hong Kong Stock Exchange on February 1, 2023, Chow Chi-ya sold off the market at an average price of HK$0.0978 per share on November 24, 2023$WELIFE TECH (01703.HK)$587 million common shares, worth approximately HK$57.3597 million. After the sale, Zhou Zhiya's latest number of shares held was 0 shares, and the good position ratio dropped from 51.00% to 0.00%.
Additional Information: Please note that Mr Nigel Trayers and I were involved Joint and Several Receivers of 586,500,000 shares in Welife Technology Limited proposed to Deed of Appointment of Receivers 8 August 2023. Subsequent, the sale transaction of the shares were completed on November 24, 2023. Reason for replacement of previous filing - typo.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 the stock interests of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.