Huang, Wenji 黃文集
China Jicheng (1027) Chairman cuts stake after Enigma Network meltdown
Company announcement, 3-Jul-2017
Huang Wenji cut his stake from 74.48% to 66.25%, selling 8.23% at an average $0.0115 per share, a loss of 95.9% since last Monday (26-Jun-2017), but still almost double the net assets per share of $0.0064. No word on whether any of his shares were pledged. The announcement contains a probable error - if he sold 4.01% on Friday, that is about 3,008m shares, not 30,008m shares. Total proceeds for the 2 days were about HK$71m
Company announcement, 3-Jul-2017
Huang Wenji cut his stake from 74.48% to 66.25%, selling 8.23% at an average $0.0115 per share, a loss of 95.9% since last Monday (26-Jun-2017), but still almost double the net assets per share of $0.0064. No word on whether any of his shares were pledged. The announcement contains a probable error - if he sold 4.01% on Friday, that is about 3,008m shares, not 30,008m shares. Total proceeds for the 2 days were about HK$71m
China Jicheng (1027) may be preparing for a placing
We note that 1.5bn shares (10%) of China Jicheng were deposited into CCASS on 17-Sep-2015, via Black Marble Securities. These can only be from Chairman Huang Wenji. Shares must be in CCASS to be tradable, so this may be a preparation for a top-up placing. Click the link to see CCASS movements. The stock is in a bubble, at 106x NAV last night, up 64x since the IPO. Black Marble is owned by Lerado (1225). (23-Sep-2015)
We note that 1.5bn shares (10%) of China Jicheng were deposited into CCASS on 17-Sep-2015, via Black Marble Securities. These can only be from Chairman Huang Wenji. Shares must be in CCASS to be tradable, so this may be a preparation for a top-up placing. Click the link to see CCASS movements. The stock is in a bubble, at 106x NAV last night, up 64x since the IPO. Black Marble is owned by Lerado (1225). (23-Sep-2015)
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