Controlling Shareholder Transfers Stake in Yincheng Life Service's to Certain Employees; Shares Slide 3%

MT Newswires · 11/03/2021 13:07

01:07 AM EDT, 11/03/2021 (MT Newswires) -- Yincheng Life Service (HKG:1922) said its controlling shareholder Huang Qingping transferred 640,000 shares or 0.24% of the entire issued share capital to certain employees on Tuesday, according to a same-day filing.

Huang transferred 80,000 shares, or 0.03% of the entire issued share capital to Silver Xuemei Holding, which is owned by the company vice president Huang Xuemei for HK$240,000 ($30,840).

While the remaining 560,000 shares, representing 0.21% of the entire issued share capital of the company, were transferred to nine selected employees for HK$1.7 million.

Following the transfers, Huang will hold a 38.66% stake in the property manager and will remain its controlling shareholder.

Shares dropped about 3% recently.

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