Seazen Holdings shareholder extends pledge agreement

Seazen Holdings (SSE:601155) announced that Changzhou Derun Consulting Management Co., Ltd., a related party to the controlling shareholder, has extended the maturity date of existing share pledge agreements with China Securities by one year. The extension affects a total of 38,623,000 shares, representing 28.03% of Changzhou Derun's holdings and 1.71% of Seazen's total share capital. The shares were initially pledged in May 2023 and February 2024, and the extension pushes the maturity date to May 22, 2026. As of the announcement date, Changzhou Derun holds 137,800,000 shares of Seazen, representing 6.11% of the total share capital, with 57.33% of their holdings currently pledged. Seazen's controlling shareholder, Fuyu Development Group, holds 1,378,000,000 shares, or 61.09% of the total share capital, with 29.85% pledged. The company stated that Changzhou Derun is prepared to take measures to address potential risks related to the share pledges.