Coolpad Group Seeks Approval for Major Share Disposal

The latest update is out from Coolpad Group ( (HK:2369) ).

Coolpad Group Limited, a company incorporated in the Cayman Islands, is seeking shareholder approval for a Disposal Mandate to sell up to 1,625,000 CLSK Shares, representing approximately 0.6% of the total outstanding shares of CLSK. This move is aimed at allowing the company to dispose of its shares in the open market based on prevailing conditions to maximize returns. The proposed disposal is considered a major transaction under the Listing Rules, requiring shareholder approval at an Extraordinary General Meeting (EGM). The company emphasizes the need for flexibility in timing and pricing to achieve the best possible outcomes in a volatile market. The Disposal Mandate will be valid for 12 months from the date of approval, providing the company with the necessary time and flexibility for potential disposals.

More about Coolpad Group

YTD Price Performance: -70.0%

Average Trading Volume: 60,660,608

Technical Sentiment Signal: Sell

Current Market Cap: HK$294.9M

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