Haitian Energy International Limited 海天能源國際有限公司

Concentration warning in Haitian Energy (8261)
SFC, 4-Sep-2017
The top 20 holders have 93.64% of the company.
Haitian Hydropower (8261): would someone please come to our Fuzhou EGM?
Company announcement, 9-May-2016
This is a Cayman-domiciled company with no mainland listing, which held its EGM in Fuzhou, making it difficult for HK shareholders to attend. The quorum is 2 shareholders present in person or by proxy, so either 0 or 1 shareholder was present. They'll try again next week, same time, same place, when there is also an AGM.
Haitian Hydropower (8261) proposes 4:1 stock split
Company circular, 15-Apr-2016
The board fails to state that this will double the percentage minimum bid-offer spread. It will reduce the price from $1.32 (where the spread is $0.01) to $0.33 (where the spread is $0.005), so the spread rises from 0.76% to 1.52%. That is negative for liquidity. If they are concerned about the cost of a board lot (although at $5280, it is a reasonable quantum) then they should halve the board lot instead. Note that in 2012 the SFC issued a concentration warning in this stock.
Concentration warning in Haitian Hydro (8261)
SFC, 28-Nov-2012
Allotment results and concentration warning in Haitian Hydro (8261)
Company announcement, 5-Jul-2012

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