On April 25, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 25, Kenneth Walton Hitchner III increased its holdings at an average price of HK$0.8515 per share on April 19$CSTONE PHARMA-B (02616.HK)$645,500 common shares worth approximately HK$549,600. After the increase in holdings, Kenneth Walton Hitchner III's latest shareholding was 2,613,500 shares, and the good position ratio increased from 0.15% to 0.20%.
Additional Information: Box 28: Such Derivative Approaches the Restricted Shares Units issued and to be issued to Kenneth Walton Hitchner III proposed to the Post-IPO RSU Scheme proposed by CSStone Pharmaceuticals.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.