- Wealth PMS
From the country of we-will-find-you-and-then-we-will-kill-you if you sell shares: (link)
All listed companies,
To support shareholding increase by listed companies’ shareholders and their concerted actors as well as stabilize the capital market and protect investors’ interests, the Shanghai Stock Exchange (SSE) hereby makes notification on relevant issues as follows:
1. Relevant regulations in Article 9 of “Code of Conduct for Shareholding Increase by Listed Companies’ Shareholders and Their Concerted Actors” and Subparagraphs (1), (2) and (4) of Article 4.5 of “Code of Conduct of Controlling Shareholder and Actual Controller of Listed Company” published by the SSE shall not be applicable to the following situation: a listed company’s shareholders, controlling shareholders and their concerted actors holding more than 30% of its shares increase shareholding and promise not to lessen shareholding in the next 6 months, when stock price of the company has accumulatively dropped by over 30% for 10 consecutive trading days.
2. Restrictive conditions of “having been listed for more than 1 year” and “after one year since the date of occurrence of the above-mentioned facts” in Subparagraph (1) of Article 2 of “Code of Conduct for Shareholding Increase by Listed Companies’ Shareholders and Their Concerted Actors” shall not be applicable to the following situation: a listed company’s shareholders and their concerted actors holding 30% or more of its shares increase holding of not more than 2% of its issued shares every 12 months.
3. The SSE-listed companies’ shareholders and their concerted actors, directors, supervisors and senior managers are encouraged to stabilize stock prices by shareholding increase or in other ways when the companies’ stock prices slump.
Shanghai Stock Exchange
July 8, 2015
As thinly veiled as it gets: Dear insiders, Buy shares, or else…