It was reported on April 16 that according to documents disclosed by the Hong Kong Stock Exchange on April 16, Liu Zhenyu sold at an average price of HK$12.5795 per share on April 11$GENSCRIPT BIO (01548.HK)$79,700 common shares worth approximately HK$1.025 million. After the sale, Liu Zhenyu's latest shareholding was 9.426 million shares, and the good position ratio dropped from 0.45% to 0.44%.
Additional Information: Dr. Liu was restricting the shares of the Company on 31/5/2021, 10/01/2022, 22/03/2022, 26/05/22, 3/4/2023 and 1/6/2023, of which of the last Instalment shall vest on 31/05/2023, 10/1/2027, 22/03/2027, 26/05/2024, 31/3/2028, and 31/5/2028. A total of 172,142 RSAs vested on 11/4/2024, of which 79,695 shares were sold to cover the expense.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.