6 April 2016
AnnouncementThis announcement is made by the Securities and Futures Commission ("SFC") in respect of the concentration of the shareholding of Vinco Financial Group Limited ("the Company") in the hands of a limited number of shareholders as at 23 March 2016.
The SFC has recently completed an enquiry into the shareholding of the Company. Our findings suggested that as at 23 March 2016, 17 shareholders held an aggregate of 165,630,000 Shares, representing 25.88% of the issued Shares. Such shareholding, together with the 442,400,000 Shares (representing 69.13% of the issued Shares) held by two substantial shareholders of the Company, represented 95.01% of the issued Shares as at 23 March 2016. Therefore, only 31,970,000 Shares (representing 4.99% of the issued Shares) were held by other shareholders.
As at 23 March 2016, the shareholding structure of the Company was as follows:
Number of Shares held (Shares) | % of total number of issued Shares (%) | |
Mr. Chung Ho Yan (Note 1) | 346,400,000 | 54.13 |
Chiu Lai Yee | 96,000,000 | 15.00 |
A group of 17 shareholders | 165,630,000 | 25.88 |
Other shareholders | 31,970,000 | 4.99 |
Total | 640,000,000 | 100.00 |
Note 1: 20,000,000 Shares were held by Mr. Chung Ho Yan, the Chairman and Executive Director of the Company, while 326,400,000 Shares were held by Vinco Asia Limited, a company wholly owned by Mr. Chung Ho Yan.
During the period from 4 January 2016 to 15 February 2016, the Shares closed in the range of HK$0.325 to HK$0.385, and closed at HK$0.360 on 15 February 2016. From 16 February 2016 to 23 March 2016, the closing price increased 153% from HK$0.360 to HK$0.910.
The Company announced on 23 March 2016 after market close its financial results for the year ended 31 December 2015, with net profit attributable to shareholders of the Company of approximately HK$2.53 million (2014: loss approximately HK$6.05 million).
As at 5 April 2016, the closing price of the Shares was HK$1.150, representing an increase of 219% from the closing price of HK$0.360 on 15 February 2016.
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Vinco Financial Group Ltd. issued this content on 06 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 April 2016 12:33:04 UTC
Original Document: http://www.vinco.com.hk/files/GLN20160406060.pdf