On October 23, Geelong Hui announced that Shanghai Yahong Moulding (603159.SH) received a notice of shareholding reduction plan issued by Mr. Xie Yaming, a shareholder holding more than 5% of the shares on October 23, 2024. Mr. Xie Yaming plans to reduce his holdings of the company's shares by no more than 4,200,000 shares through block trades and centralized bidding, not exceeding 3.00% of the total share capital of the company. The reduction period will start 15 trading days after the disclosure date of this announcement and will be completed within three months. Within any continuous 90-day period, the reduction through block trades does not exceed 2.00% of the total share capital of the company, up to 2,800,000 shares; and the reduction through centralized bidding does not exceed 1.00% of the total share capital of the company, up to 1,400,000 shares.
After this reduction, Mr. Xie Yaming and his concerted action person, Mr. Xie Yue, will continue to unconditionally and irrevocably waive their voting rights, which collectively account for 23.01% of the total share capital of the company that they continue to hold individually. The period for waiving the voting rights should be from the day when the shareholding proportion of Ningsheng Group exceeds that of Mr. Xie Yaming and Mr. Xie Yue, which shall not be less than 7.00%. The reduction price will be determined based on the market price during the implementation of the reduction.
