Central China Management: Joy Bright Divests 15.00% Stake for HK$33.05 Million; King Link Rises to Largest Shareholder

Bulletin Express04-29

Central China Management Company Limited announced that its controlling shareholder, Joy Bright Investments, has entered into a sale-and-purchase agreement to transfer 579.84 million shares—equivalent to 15.00% of the company’s issued share capital—to King Link International Investment for total consideration of HK$33.05 million.

Prior to the transaction, Joy Bright held 1.36 billion shares, or 35.13%, while King Link owned 386.56 million shares, or 10.00%. Post-deal, Joy Bright’s stake will decrease to 778.05 million shares (20.13%), causing it to relinquish its status as controlling shareholder though retaining the position of substantial shareholder. King Link’s holding will expand to 966.41 million shares (25.00%), making it the company’s single largest shareholder.

The board does not anticipate any material adverse impact on the group’s operations resulting from the share disposal. Shareholders and prospective investors are advised to exercise caution when dealing in the company’s shares.

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