Gilston Group Restructures Major Shareholding After Court-Approved Inheritance

China Apex Group Ltd. ( (HK:2011) ) has issued an update.

Gilston Group Limited has announced a change in its substantial shareholding structure following the inheritance of shares previously held by the late major shareholder, Mr. Wu Jingming. The Eastern Caribbean Supreme Court of the British Virgin Islands has approved the inheritance application of executive director and nephew, Mr. Cody Wu Zhuo‑xuan, who has now inherited all the issued shares in Central Eagle, a holding vehicle that directly owns about 139.2 million Gilston shares, representing roughly 24.23% of the company’s issued share capital. As a result, Mr. Cody Wu has become the sole shareholder of Central Eagle and is now a substantial shareholder of Gilston under Hong Kong listing rules. The board has stated that this transfer of control over a large equity block will not adversely affect the group’s operations or overall development, though it has advised shareholders and potential investors to exercise caution when dealing in the company’s securities.

The most recent analyst rating on (HK:2011) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on China Apex Group Ltd. stock, see the HK:2011 Stock Forecast page.

More about China Apex Group Ltd.

Gilston Group Limited is a Hong Kong-listed company incorporated in the Cayman Islands and traded on the Main Board of the Stock Exchange of Hong Kong. The group’s board comprises executive, non-executive and independent non-executive directors, reflecting a typical governance structure for a mid- to large-cap Hong Kong corporate issuer, though the announcement does not specify its operating industry or primary business lines.

Average Trading Volume: 49,500

Technical Sentiment Signal: Hold

Current Market Cap: HK$856M

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