On February 9, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on February 9, Microware International Holdings Limited sold off the market at an average price of HK$1.36 per share on February 8$MICROWARE (01985.HK)$17.5 million common shares worth approximately HK$23.8 million. After the sale, Microware International Holdings Limited's latest shareholding was 20.084 million shares, and the good position ratio dropped from 12.77% to 6.94%.
The transaction involved another related party: Yang Chunqing.
Additional Information: Benefiting to a sale and purchase agreement extending 28 November 2023 into between Microware International Holdings Limited (“Microware”), which is beneficial and wholly-owned by Mr. Yang Peter Shun Tsing, and Weiye Holdings Group Limited (“Weiye”) and a deed of novation proposed 2 February 2024 brought into between Microware, Weiye and Mr. Wang Guangbo, 17,500,000 Ordinary Shares in Microware Group Limited had been discussed from Microware to Mr. Wang Guangbo on 8 February 2024.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.