40mln legal shares of major shareholder of Northeast Electrical auctioned

Northeast Electrical T&T Machinery Mfg.(0042) announced that the company was notified by the major shareholder that the locked-up 40mle legal shares were auctioned by The intermediate people's court of Chengdu on June 19.

Share holding volume of the major shareholder decreased from 48.15% to 43.57%. The major shareholder is taking active action and negotiating with creditors to keep the rest 43.57% shareholding form auctioning.

Northeast Electrical T&T Machinery Mfg said changes in shareholding spell no influence on production operation and financial status of the company.

Related stock : (42)