CT VISION (00994) Controlling Shareholder Sells 26.4% Stake in the Company

Stock News
Jan 12

CT VISION (00994) announced that recently, a controlling shareholder of the company, CT VISION Investment Limited, sold 133.32 million shares and 160 million company shares to an independent third party and a company controlled by an existing shareholder, respectively, equivalent to approximately 12% and 14.40% of the company's issued share capital. Approximately 44.80% of the interests in CT VISION Investment are held by Ms. Lin Zhiling, 22.40% by Mr. Lin Junqiang, and 22.40% by Mr. He Junjie. Prior to entering into these agreements, CT VISION Investment beneficially held approximately 599 million shares, equivalent to about 53.93% of the company's issued share capital. Immediately following the completion of these disposals, CT VISION Investment beneficially owns approximately 306 million shares, equivalent to about 27.53% of the company's issued share capital. Although, post-completion, CT VISION Investment's shareholding percentage in the company falls below 30%, according to the Securities and Futures Ordinance, CT VISION Investment, together with the second buyer (a person acting in concert with CT VISION Investment), holds over 30% of the voting rights in the company, and therefore they are still regarded as the company's controlling shareholders.

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