Redwall New Materials: Shareholders plan to reduce stakes

Guangdong Redwall New Materials (SZSE:002809) disclosed plans for several key shareholders to reduce their stakes in the company. Guangdong Provincial Science and Technology Venture Capital Co., Ltd., currently holding 14,019,488 shares (6.67% of total equity), intends to reduce its holdings by no more than 2,102,200 shares (1%). Director and Vice President He Yuanjie plans to reduce holdings by no more than 277,000 shares (0.132%), from her current stake of 1,111,090 shares (0.53%). Han Qiang, another specified shareholder and spouse of He Yuanjie, intends to reduce his holdings by no more than 44,000 shares (0.021%) from his current holdings of 176,715 shares (0.08%). The reduction will occur via centralized bidding transactions within a three-month period, starting 15 trading days after the announcement date, pending market conditions.