Anhui Truchum director to cut stake for personal financial needs

Anhui Truchum Advanced Materials & Technology announced that its director, Tang Yougang, intends to reduce his shareholding by up to 2,000,000 shares. This represents 0.13% of the company's total share capital (excluding shares in the dedicated repurchase account). The transaction is planned to occur within three months, starting 15 trading days from the announcement date, using either centralized bidding or block trading.

Tang currently holds 12,261,870 shares, accounting for 0.77% of the total share capital after excluding repurchased shares. The reduction is cited as being due to personal financial needs. The shares originate from a 2019 asset acquisition and capital raising event, as well as secondary market purchases.

The company stated that the planned reduction will not impact the company's control, governance structure, or ongoing operations, as Tang is not a controlling shareholder or the actual controller. Anhui Truchum will continue to monitor the progress and ensure compliance with regulatory requirements.