On June 26, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on June 26, Guo Xiaotao increased his OTC holdings at an average price of 51.5101 yuan (RMB, same unit) per share on June 21$PING AN (02318.HK)$471,000 A-shares worth about 2,427,700 yuan. After increasing his holdings, Guo Xiaotao's latest shareholding was 173,500 shares, and the good position ratio was 0.00%.
Additional information: BOX-24:47,130 shares with the average price of 51.5101 were vested to Michael Guo considered to the Company's Key Employee Share Purchase Plan, which paid of 8,639 shares, 14,203 shares and 24,288 shares paid at the price of 73.13, 47.56 and 46.13 shares. BOX-27:103,368 A shares were considered to Mr. Guo as part of his payroll under the company's Long Term Service Plan. The shares are held by a trust and will be vested upon his retirement subject to certain conditions.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.