YEAH YEAH GROUP (8082), formerly known as Sun Entertainment, announced last night (6th) that it was informed by controlling shareholder Zhou Zhuohua (Ximihua) that it had sold approximately 731 million shares on the market from 14 to 23 September this year GROUP YES YES.
The sale of shares is expected to bring in 8.86 million
After the completion of the transaction, Zhou Zhuohua’s holding fell from 37.04% to 2.17% or approximately 45.47 million shares and he will no longer be the controlling shareholder of YEAH YEAH GROUP. According to stock exchange information, Zhou Zhuohua sold the related shares and grossed 8.86 million yuan.
The notice also pointed out that the company does not expect Zhou Zhuohua’s sale of shares to have any negative impact on the group’s operations. Furthermore, the companies are not aware of the identity of the counterparties in the sale, nor of their main commercial activities.
In terms of share price, this morning YEAH YEAH GROUP more than doubled to 0.029 yuan and temporarily reported 0.025 yuan, still up 92%, but the transaction amount is less than 5 million yuan. As for the case of Zhou Zhuohua, he is on trial in the Macao court and is being held in the Macao Coloane prison.
On the other hand, the Stock Exchange revealed that Xu Bingchen, known as the “King of small shells on the growing business market”, has become the second largest shareholder of YEAH YEAH GROUP. It recently increased its holdings by 43.38 million shares, increasing its holding to 18.24%.
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