On September 4, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on September 4, Zhang Meijuan increased her OTC holdings at an average price of HK$0.25 per share on September 2$WELL LINK SEC (08350.HK)$0.16 billion common shares worth approximately HK$40 million. After increasing her holdings, Zhang Meijuan's latest shareholding was 0.684 billion shares, and the good position ratio increased from 65.46% to 71.22%.
Additional Information: On 2 September 2024, the Company and Ms. Zhang Meijuan (the agreement of Mr. Xu Chujia), as a subscriber, entered into a conditional subscription agreement, referred to which of the subscribers Approval to subscribe for 160,000,000 shares of the Company at HK$0.25 per share, subject to, among others, approval of the transaction at the company's extraordinary general meeting. Please refer to the recommendations of the company announcements 2 September 2024 for details.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.