On May 29, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 29, Cao Jian sold at an average price of HK$6.3552 per share on May 28$FE HORIZON (03360.HK)$341,000 common shares worth approximately HK$2.1671 million. After the sale, the latest number of shares held by Cao Jian was 31.381 million shares, and the good position ratio dropped from 0.73% to 0.72%.
Additional information: On 28 May 2024, Mr. Cao Jian exercised a total of 341,000 share options proposed on 15 June 2016 under the share option scheme of the company proposed on 7 July 2014 for 341,000 shares of The Company, which was disposed of on the same day.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.