Three directors of SUNSHINE 100 (02608) sold company shares during the lock-up period due to default on margin financing.
Sunac China Holdings (02608) announced that the company has appointed Mr. Yi Xiaodi as the executive director, chairman and CEO.
SUNSHINE 100 (02608) Announcement: The company has received notifications from company executive director, chairman and CEO Mr. Yi Xiaodi, executive director Mr. Fan Xiaochong, and non-executive director Ms. Fan Xiaohua that they are considered to be selling 5 million shares of the company held by Lucky Rise Holdings Limited in the open market in a forced sale manner during the lock-up period, accounting for approximately 0.2% of the company's issued share capital as of the date of this announcement, due to default on margin financing.
According to Appendix C3 Section A.3 of the Listing Rules, directors of the company are prohibited from buying or selling any company securities during the lock-up period, which is the day of the publication of the company's financial performance and the 60 days leading up to the next annual performance publication date. The board meeting for the publication of the financial performance for the year ended December 31, 2024, will be held on March 28, 2025. Although Mr. Yi Xiaodi, Mr. Fan Xiaochong, and Ms. Fan Xiaohua have no influence or control over the sale, the sale is still occurring during the lock-up period and is considered as they conducting a transaction.
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