It was reported on October 16 that according to documents disclosed by the Hong Kong Stock Exchange on October 16, NEW CHARMING HOLDINGS LIMITED was sold at an average price of HK$1.5196 per share on October 11$BRIGHT SMART (01428.HK)$6.134 million common shares worth approximately HK$9.3212 million. After the sale, NEW CHARMING HOLDINGS LIMITED's latest shareholding was 854 million shares, and the good position ratio dropped from 50.67% to 50.31%.
This transaction involves another related party: Ye Maolin.
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.