According to the announcement from China Metal Resources Utilization (01636), the company's board has been informed by its major shareholder, Shi Jian Limited (Shi Jian), that due to forced sales conducted by the brokerage China Securities Co., Ltd. on March 6, 7, 10, and 11, 2025, a total of 5.112 million shares held by Shi Jian (equivalent to approximately 0.12% of the total issued share capital of the company as of the date of this announcement) have been sold in the market. As of the date of this announcement, the company's executive director, chairman, and CEO Mr. Yu Jianqiu owns all the shares of Shi Jian. Following the completion of the sale and as of the date of this announcement, Shi Jian's percentage of equity in the company has decreased to approximately 11.77% of the total issued share capital of the company.
According to Appendix 10 A.3(a)(i) of the Listing Rules, directors are prohibited from trading any securities of the company on any day when its financial performance is published and during the 60 days immediately preceding the publication date of the annual results or (if shorter) from the end of the relevant financial year to the publication date of the results (the blackout period). The blackout period for the company's annual results for the year ending December 31, 2025, is from January 30, 2025, to April 1, 2025. Therefore, the sale occurred during the blackout period and constitutes a non-compliance event under Appendix C3 A.3 of the Listing Rules

02966

01636

CMRU announced that its major shareholder, Shi Jian Co., Ltd., sold 5.112 million shares during the lock-up period, resulting in its shareholding ratio dropping to 11.77%. The sale was enforced by China Securities Co., Ltd., violating the lock-up period regulations of the listing rules

CMRU's shareholder Shi Jian sold 5.112 million shares during the lock-up period