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Planetree (0613): late disclosure of buybacks by a subsidiary | Disclosure of interest
Company announcement, 12-Mar-2020
"After receiving guidance from The Stock Exchange", Planetree discloses that Liberty Capital Ltd repurchased 330 shares from Great Panorama International Ltd on 13-Dec-2019 (the day after Planetree completed its initial 2000-share subscription), and 335 shares each from Roxxon Ltd and CST (0985) a week later, a total of 1000 shares. It says GPI was owned by Osman Bin Kitchell and Roxxon was owned by David Ki. The total buyback cost was HK$127.2m, almost half of what Planetree initially injected. We note that in the Planetree circular dated 31-Oct-2019, GPI had 3 unnamed shareholders. 1 of them was Mr Kitchell with 59.30%. According to disclosures of interest in Inno-Tech (8202), on 27-Sep-2019 GPI was transferred by Mr Kitchell to High Rhine Ltd, where it remained at least until 28-Apr-2020, after the share repurchase.
Organisations
- CST Group Limited 中譽集團有限公司
- Great Panorama International Limited
- Planetree (Cayman) Capital Limited
- Planetree International Development Limited 梧桐國際發展有限公司
- Roxxon Limited (VG)
- Violet Fame Limited
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