It was reported on January 12 that according to documents disclosed by the Hong Kong Stock Exchange on January 12, Ever Media Limited increased its holdings at an average price of HK$0.8401 per share on January 11$LIPPO CHINA RES (00156.HK)$314,000 common shares worth approximately HK$263,800. After the increase in holdings, Ever Media Limited's latest shareholding was 46.38 million shares, and the good position ratio increased from 4.97% to 5.00%.
The transaction involved other related parties: Four Seas Enterprises (BVI) Limited and Four Seas Mercantile Holdings Limited.
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 interest in shares of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.