On April 25, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 25, Harvest Sky Investment Holdings Limited sold at an average price of HK$4.2898 per share on April 18$STAR CM (06698.HK)$828,000 common shares worth approximately HK$3.552 million. After the sale, Harvest Sky Investment Holdings Limited's latest shareholding was 299 million shares, and the good position ratio dropped from 75.33% to 75.12%.
Additional Information: Attaching to the Joint Control Agreement, each of the Unionstars, East Brothers, Goldenbroad, Beamingstars, Harvest Sky, Mr. Tian, Mr. Jin, Mr. Xu, SH Zhihua, CMC (Shanghai) and CMC (Tianjin) ) Combating to exercising control over the Company, and thus is considering to be involved in an aggregate of 299,378,377 ordinary shares of the Company.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.