Zhongyuan Construction (09982) issued an announcement. At the end of business hours on March 28, 2024, the board of directors approved the company...
Zhitong Finance App News, Zhongyuan Jianye (09982) issued an announcement. At the end of business hours on March 28, 2024, the board of directors was informed by the company chairman and non-executive director Hu Baosen (Mr. Hu) that Joy Bright Investments Limited (a company wholly owned by Mr. Hu) held about 396 million shares of the company (held in a securities trading account with guaranteed financing), accounting for about 10.2% of the company's total issued share capital. These guarantees were applied on March 27 and 28, 2024 The terms and conditions of the financing are sold as collateral on the market to repay outstanding balances owed to the relevant securities companies.
According to paragraph A.3 of Appendix C3 to the Listing Rules, company directors are prohibited from trading any company securities on any day of publication of the company's financial results and within a period of 60 days immediately prior to the publication date of the annual results. The sale was carried out during the sales ban period. The publication of the company's annual results for the year ended December 31, 2023 will be delayed, so the sale was carried out during the sales ban period and constituted a share transaction carried out by Mr. Hu. However, Mr. Hu was passively involved in making the sale.
The directors (with the exception of Mr. Hu) have considered the sale and are satisfied that the sale was carried out in accordance with the special circumstances under paragraph C.14 of Appendix C3 to the Listing Rules.