It was reported on March 26 that according to documents disclosed by the Hong Kong Stock Exchange on March 26, Xie Weiye sold off the market at an average price of HK$0.468 per share on March 18$CLARITY MEDICAL (01406.HK)$7 million common shares worth approximately HK$3.276,000. After the sale, Xie Weiye's latest shareholding was 78,263,400 shares, and the good position ratio dropped from 16.14% to 14.82%.
This transaction involves other related parties: Ultimate Bliss Limited and Xie Weiye.
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.