Shareholders of listed companies have an obligation to notify both the listed company and the Financial Supervisory Authority of changes in their holdings and voting rights (notification obligation). Listed companies have an obligation to publicly disclose the shareholder's notification.
The Securities Markets Act specifies the thresholds for submitting a notification of major shareholding. A notification must be made when the holding or proportion of voting rights reaches, exceeds or falls below 5, 10, 15, 20, 25, 30, 50 or 90 percent, or two thirds, of the voting rights or number of shares of the company.
Notifications of major shareholdings must be made without undue delay, but no later than on the trading day following a breach of the notification threshold.
Notifications to HKScan are made by email to Communications@hkscan.com. Notifications to the Financial Supervisory Authority are made as per the instructions of the FSA.
Read more on the Financial Supervisory Authority website.