CEO Zuo Manlun Acquires Approximately 43.91 Million Shares of CHINA LESSO at HK$3.77 Per Share

Stock News07-09

According to the latest data from the Hong Kong Stock Exchange, on July 8, the company's Chief Executive Officer, Zuo Manlun, purchased approximately 43.91 million shares of CHINA LESSO (HKEX: 02128). The transaction was executed at a price of HK$3.77 per share, amounting to a total consideration of roughly HK$166 million.

Following this acquisition, Zuo Manlun's total shareholding now stands at 154 million shares, representing approximately 4.95% of the issued share capital.

Supplementary information indicates that the transaction is related to a collar agreement with a bank dated July 26, 2028. Under this agreement, Zuo Manlun agreed to purchase 43,909,143 shares from the bank. A net settlement agreement on the same date stipulates that the bank's obligation to deliver these shares and pay an initial amount under the collar, alongside Zuo Manlun's obligation to pay the consideration and transfer 43,909,143 shares under the related credit support annex on July 26, 2030, will be settled and discharged. Additionally, Zuo Manlun is to deliver 6,970,513 shares to the bank on July 26, 2030. The reference to Box 28-4108 pertains to the bank's obligation to return shares under a previous collar arrangement.

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