On March 28, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on March 28, Liu Zhirong sold off the market at an average price of HK$0.8482 per share on March 28$VISION INT HLDG (08107.HK)$74.038 million common shares worth approximately HK$62.799 million. After the sale, Liu Zhirong's latest shareholding was 1 million shares, and the good position ratio dropped from 55.39% to 0.73%.
Additional Information: On 27 March 2024, Mr. Lau Chi Wing James (“Mr. Lau”) and BEAMING ELITE HOLDINGS LIMITED (“Beaming Elite”) entered into the sale and purchase agreement (the “SPA”), discussed to which Beaming Elite conditionals to purchase 74,038,000 shares of Vision International Holdings Limited from Mr. Lau for a cash allowance of HK$62,800,000. Beaming Elite is wholly-owned by Mr. Chan Ting. COMPLETION OF THE SPA TAKEN PLACE ON 28 MARCH 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.