Yutai Real Estate (00075) announced that he was told by Zhang Songqiao, a major shareholder, that his indirectly wholly-owned First Rose Global Limited sold 88 million shares, or about 11% of the shares, to Huang Yun, the executive director, at a price of 2 yuan per share at 176 million yuan yesterday. The group said that after the transaction, First Rose's stake fell to about 6.1 per cent and was no longer a major shareholder. As for Huang Yun, his shareholding rose to about 20.98% and became a major shareholder.
In addition, the Group indicates that since yesterday, Zhang Songqiao has resigned as Executive Director, Chairman and Managing Director, and Dong Huilan has resigned as Executive Director, each of which has confirmed that he does not have any differences of opinion with the Board, there are also no matters requiring the attention of shareholders or the Stock Exchange in relation to the resignation. The Group said that on the same day, Wong Yun was appointed as the Chairman, Managing Director, member and Chairman of the nomination Committee, member of the Remuneration Committee and authorized agent. (wh)
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