Huayou Cobalt: Shareholder releases pledges on 44.5m shares

Zhejiang Huayou Cobalt (SSE:603799) announced today that controlling shareholder Huayou Holding Group and person acting in concert, Chen Xuehua, have released a portion of their pledged shares. Chen Xuehua released 25,200,000 shares, representing 30.54% of their holdings and 1.48% of total company shares, leaving 32,270,000 shares pledged. Huayou Holding released 19,300,000 shares, representing 6.32% of their holdings and 1.13% of total shares, leaving 182,119,994 shares pledged. Following these transactions, the cumulative pledged shares of Huayou Holding and Chen Xuehua amount to 214,389,994 shares, or 55.28% of their total holdings and 12.60% of Huayou Cobalt's total share capital. The company stated it will continue to monitor the pledge status of its shareholders and fulfill its disclosure obligations accordingly.