It was reported on May 9 that, according to documents disclosed by the Hong Kong Stock Exchange on May 9, All Great International Holdings Limited sold at an average price of HK$0.1176 per share on May 8$CN CULTURAL T&A (00542.HK)$55.52 million common shares worth approximately HK$5.944,900. After the sale, All Great International Holdings Limited's latest shareholding was 2.94 billion shares, and the good position ratio fell from 38.91% to 38.25%.
The transaction involved other related parties: Jade Leader International Investment Limited, Honor Huge Investment Holdings Limited, Yang Lijun, and Lin Rujie.
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.