CMON (01792) announced that due to a concerted action arrangement, Mr. Huang Chengan and Mr. Jianbang are regarded as the company's...
Zhitong Finance App News, CMON (01792) announced that due to a concerted action arrangement, Mr. Huang Chengan and Mr. Jianbang are regarded as a group of concerted shareholders of the company, and they are regarded as having interests in each other's share interests. Prior to the notice, Mr. Huang Chengan and Mr. Jianbang were both deemed to have interests in approximately 40.27% of the issued shares through Huang Chengan Special Company and Jianbang Special Company. Therefore, Mr. Huang Chengan, Mr. Jianbang, Huang Chengan Special Company and Jianbang Special Company are regarded as controlling shareholders of the company.
On March 27, 2024, Mr. Jianbang issued a notice to Mr. Huang Chengan, stating that it will withdraw the confirmation of consistent action with Mr. Huang Chengan, which will take effect from April 11, 2024.
After the notice comes into effect on April 11, 2024, there will no longer be any concerted action arrangements between Mr. Jianbang and will no longer act in concert (including) when exercising the voting rights of any group company (which is the ultimate or beneficial owner (as the case may be)). Mr. Jianbang also no longer agreed to act in concert with Mr. Huang Chengan on all major matters of each group company, including but not limited to shareholder/director voting, business decisions, appointment of management, approval of dividends, annual budgets, financial reports and auditors of each group company.
After the notice comes into effect on April 11, 2024, Mr Wong Sing On, Mr Wong Sing On, and Kin Bang Special Company will no longer be deemed to have interests in each other's share interests. As a result, Mr. Wong Sing On (through Wong Sing On) and Mr Jianbang (through Jianbang Special Company) each hold less than 30% of the company's voting rights and are therefore no longer controlling shareholders. Mr. Wong Shing On, Mr. Wong Sing On, Mr. Wong Sing On, and Kin Bang Special Company will each become major shareholders of the company.