It was reported on June 19 that according to documents disclosed by the Hong Kong Stock Exchange on June 19, Polly Power Group Limited increased its OTC holdings at an average price of HK$0.25 per share on June 15$SHEEN TAI (01335.HK)$609 million common shares worth approximately HK$152 million. After the increase in holdings, Polly Power Group Limited's latest shareholding was 609 million shares, and the good position ratio increased from 0.00% to 25.00%.
This transaction involves other related parties: Dai Jizhou and Feng Yi Capital Limited.
Additional Information: On 15 June 2024, Sheen Tai Group Holding Limited (the “Vendor”) and Polly Power Group Company Limited (the “Purchaser”) entered into a sale and purchase agreement, agreed to which, The Vendor has Conditioned to Sell and the Purchaser has Conditioned to Purchase 608,500,000 Shares at the Total Purchases of HK$152,125,000. For further details, please refer to The to Investigations of Sheen Tai Holdings Group Company Limited announced 17 June 2024.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.