CHINA STAR ENT (00326.HK): Controlling Shareholder Sells 340 Million Shares to Lam Sin Cheng, Stake to Fall from About 64.20% to About 50.20%
- Completion of the disposal shall take place on the seventh business day from the date of the sale and purchase agreement.
- The purchaser, Ms. Lam Sin Cheng, is a third party independent of and not acting in concert with HWKFEL, the Group or any of their respective directors, chief executive, substantial shareholders or associates.
- Immediately after completion of the disposal, the purchaser will become a substantial shareholder of the Company, holding approximately 14.00% of the entire issued share capital.
NewTimeSpace News: On 11 September 2026, China Star Entertainment Limited (stock code: 00326.HK) announced that it was informed by Mr. Heung Wah Keung, a controlling shareholder and the Chairman and executive director of the Company, that on 11 September 2026, Heung Wah Keung Family Endowment Limited ("HWKFEL"), a company jointly held by Mr. Heung and Ms. Chen Ming Yin, Tiffany (the spouse of Mr. Heung and the Vice Chairman and the executive director of the Company), entered into a sale and purchase agreement with Ms. Lam Sin Cheng in relation to the disposal of 340,000,000 shares of the Company, representing approximately 14.00% of the entire issued share capital of the Company as at the date of this announcement.
Completion of the disposal shall take place on the seventh business day from the date of the sale and purchase agreement. To the best of the knowledge, information and belief of the directors of the Company, having made all reasonable enquiries, the purchaser is a third party independent of and not acting in concert with HWKFEL, the Group, or any director, chief executive or substantial shareholder of the Group or any of their respective associates.
Upon completion of the disposal, the number of shares held by HWKFEL will decrease from 1,559,375,595 shares, representing approximately 64.20% of the entire issued share capital of the Company, to 1,219,375,595 shares, representing approximately 50.20%. Immediately after completion of the disposal, HWKFEL will remain as the controlling shareholder of the Company, and the purchaser will become a substantial shareholder of the Company, holding approximately 14.00% of the entire issued share capital of the Company.
The Company does not expect that the disposal will have any material adverse effect on the business operation and financial position of the Company. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.
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