On April 9, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 9, Chun Wo Overseas Holdings Limited increased its OTC holdings at an average price of HK$0.35 per share on April 5$MODERN LIVING (08426.HK)$3.71 million common shares worth approximately HK$1.298,500. After increasing its holdings, Chun Wo Overseas Holdings Limited's latest shareholding was 570 million shares, and the good position ratio rose from 70.77% to 71.23%.
The transaction involved other related parties: Asia Allied Infrastructure Holdings Limited, Lee Wai-han, and Pang Yi-ting.
Additional information: The completion took place for the total of 3,710,000 offer shares, being the shares of the listed corporation proposed to the mandatory unconditional cash offer by Somerley Capital Limited for and on undertakings of Chun Wo Overseas Holdings Limited. 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.