On February 7, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on February 7, Yu Chunfeng increased his OTC holdings at an average price of HK$0.1 per share on February 2$VIRTUAL MIND (01520.HK)$400 million common shares worth approximately HK$40 million. After increasing his holdings, Yu Chunfeng's latest shareholding was 400 million shares, and the good position ratio rose from 0.00% to 15.77%.
ADDITIONAL INFORMATION: Please refer to the First Subscription as recommended under the Supplements of Virtual Mind Holding Company Limited published on 2 February 2024.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.