On May 17, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 17, Greensheid Corporation sold off the market at an average price of HK$0.0454 per share on May 16$LANDSEA MGMT (00106.HK)$944 million common shares worth approximately HK$42.886 million. After the sale, Greensheid Corporation's latest shareholding was 1,067 million shares, and the good position ratio dropped from 42.60% to 22.60%.
The transaction involved other related parties: Landsea International Holdings Limited, Nanjing Ding Chong Investment Management Consultants Ltd. (Nanjing Ding Chong Investment Management Consultants Co., Ltd.), Tian Ming, and LANDSEA GROUP CO., LTD.
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.