Silkwave Inc Discloses Forced Sale of 64.53 Million Shares by Major Holders; Trading to Resume on 23 April

Bulletin Express04-22 18:23

Silkwave Inc announced that substantial shareholder Chi Capital Holdings Ltd (CCH) defaulted on a loan secured by its holdings, prompting an independent lender to forcibly sell 53.29 million shares—11.10% of the company’s issued share capital—on 21 April 2026. CCH’s stake fell from 70.78 million shares (12.68%) to about 1.58% after the transaction.

A subsequent sharp share-price decline on 22 April 2026 triggered the forced sale of 24.35 million shares held by Chairman and Executive Director Mr. Chau Ngai Fung. Mr. Chau now retains 12.24 million shares, or 2.55% of issued capital.

The Board stated it is unaware of further undisclosed matters influencing recent price and volume movements. Trading in Silkwave Inc shares was suspended at 1:48 p.m. on 22 April 2026 and is scheduled to resume at 9:00 a.m. on 23 April 2026.

Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.

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