On April 8, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 8, Peng Yiting increased his OTC holdings at an average price of HK$0.35 per share on April 2$MODERN LIVING (08426.HK)$3.92 million common shares worth approximately HK$1.372 million. After increasing her holdings, Peng Yiting's latest shareholding was 540 million shares, and the good position ratio increased from 67.01% to 67.50%.
Additional information: The completion took place for the total of 3,920,000 offer shares, being the shares of the listed corporation proposed to the mandatory unconditional cash offer by Somerley Capital Limited for and on Advising of Chun Wo Overseas Holdings Limite. Please refer to the Composite Document of the Listed Corporation Announced 5 March 2024 for details.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.