Genesis Scale Warns of Potential Forced Disposition of 60.79 Million Pledged Shares
Bulletin Express
Mar 27
Genesis Scale Holdings Limited (Genesis Scale) disclosed that a court ruling allows Shenzhen SEFJ Financial Leasing Co., Ltd. (SEFJ) to move forward with a unilateral forced sale of shares pledged by substantial shareholder New Horizon Wireless Technology Limited (New Horizon).
The pledged position comprises 60.79 million shares, equal to approximately 9.87% of Genesis Scale’s issued share capital excluding treasury shares. Should SEFJ execute the sale, this figure represents the maximum number of shares subject to disposal.
The company emphasised that investors should exercise caution when dealing in its securities.
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