Hongqiang Holdings (08262) announced that the board of directors noticed a significant price of the company's shares on December 27, 2023...
Zhitong Finance App News, Hongqiang Holdings (08262) announced that the board of directors noticed a sharp drop in the price of the company's shares on December 27, 2023. After making relevant inquiries about the Company which were reasonable in the circumstances, the Board confirmed that, other than those disclosed in this Notice, the Board was unaware of any other reasons for price fluctuations or any information that must be published to avoid false markets in the Company's securities, or any insider information required to be disclosed under Part XIVA of the Securities and Futures Ordinance (Chapter 571) of the Hong Kong Laws.
The board of directors learned that Guo Dongqiang, the chairman, executive director and controlling shareholder of the company (currently holding about 31.41% of the company's total issued share capital through Best Brain Investments Limited, which is wholly-owned by Guo Dongqiang) may sell all or part of his shares and was contacted by an independent third party (potential buyer). As of the date of this announcement, Guo Dongqiang did not enter into negotiations with the potential buyer, entered into any formal and legally binding sales agreement with respect to the potential sale, and did not have any clauses (including but not limited to pricing) in respect of the potential sales agreement. The board was also informed by Guo Dongqiang that he had no intention of selling shares held by Best Brain Investments Limited to potential buyers. As a result, potential sales will not be implemented.
Furthermore, the company has applied for the resumption of stock trading with effect from 9 a.m. on December 28, 2023.