On May 13, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 13, Meng Pinwen sold at an average price of HK$0.05 per share on May 8$WALNUT CAP (00905.HK)$39.792 million common shares worth approximately HK$1,9896 million. After the sale, Meng Pinwen's latest shareholding was 748 million shares, and the good position ratio dropped from 74.99% to 71.20%.
Additional information: Noted of nil-paid Rights Shares under the Officials Allotment LetterWhat 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.