GLMS SEC (01456.HK): Controlling Shareholder's Increase Undertaking Triggered; to Buy Within 6 Months

NewTimeSpace News: On 8 October 2026, Guolian Minsheng Securities Co., Ltd. (the "Company") published an overseas regulatory announcement reproducing its announcement on the triggering of the controlling shareholder's undertaking to increase its shareholding, as published on the website of the Shanghai Stock Exchange. The Company, with the CSRC's approval for registration, acquired assets by issuing shares to its controlling shareholder, Wuxi Guolian Development (Group) Co., Ltd. ("Guolian Group"), at an issue price of RMB 11.17 per share; the new shares were registered with the Shanghai branch of China Securities Depository and Clearing Corporation Limited on 3 January 2025.

The announcement disclosed that in that issuance Guolian Group issued an undertaking letter on increasing its shareholding under specified conditions, under which, within 36 months from completion of the acquisition, if the Company's closing share price falls below 80% of the issue price (as adjusted for dividends, bonus issues, capitalisation issues, rights issues and other ex-rights/ex-dividend events or as otherwise adjusted) for 20 consecutive trading days, Guolian Group will increase its shareholding within six months from the occurrence of such circumstances, in an amount not less than the cash dividends it received from the Company in the preceding financial year.

The Company stated that, as of 30 September 2026, its closing share price had been below 80% of the issue price for 20 consecutive trading days, and the trigger condition for the increase obligation under the undertaking letter has been met. The Company recently received a notice from Guolian Group that, after completing relevant state-owned asset approval procedures, it will increase its shareholding within six months from the trigger date through means permitted by law, with an intended increase amount in aggregate not less than the cash dividends it received from the Company for 2025; the Company will timely disclose information on the performance of the undertaking.

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