Yu, Alice Man Fung 于文鳳

Can a Cyan River be far away? The announcement reveals that CST (0985) now owns 17.35% of Green River. It was formerly 100% owned by Planetree (0613) which in 2020 sold 60% (now 49.59%) to Alice Yu Man Fung. At the time, Planetree stated that Ms Yu and Karen Lo Ki Yan, controlling shareholder of Planetree, "have known each other for many years". The announcement also reveals that GRA owns 32% of SHOG Creation Ltd, which owns 19.89% of Oshidori (0622). We can add that 55% of that entity is held by Paul Suen Cho Hung, although it was last known as "Seekers Creation Ltd".

The portfolio held by Green River Associates Ltd (Marshall Islands) comprises 5 unnamed HK-listed stocks. The buyer and Karen Lo Ki Yan, controlling shareholder of Planetree, "have known each other for many years". Planetree will continue to manage the portfolio. Reducing GRA to a 40% associate means that its future disposals and acquisitions of stocks will be outside the scope of the Listing Rules for Planetree.

The condition, which has not been fulfilled, is the listing of the shares by the Listing Committee of the Stock Exchange. We wonder why this was not fulfilled.

The subscriber is an SFC-licensed representative of Radland International Ltd, sister of Chung Nam Securities Ltd. Dragonite is in what we call the "Chung Nam Network".

100m options go to Alice Yu Man Fung. She is an SFC-licensed representative of Radland International Ltd. 10m go to Margaret Wong Wan Men. She is a Responsible Officer of CU Corporate Finance Ltd. Both Radland and CUCF are fellow subsidiaries of Chung Nam Securities, all owned by Hennabun Capital Group Ltd. We don't know who Ko Po Yee is, but s/he gets 100m options.

The subscriber is a licensed representative of Orient Securities Ltd.