Lioness Limited buys 500,000 Class B shares in Cheer Holding, holding 96.44% voting power - CHR News | RalliesLioness Limited buys 500,000 Class B shares in Cheer Holding, holding 96.44% voting power
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CHR• Cheer Holding control stake changes hands
- Cheer Holding chairman and CEO Bing Zhang sold all 500,000 Class B ordinary shares to Hong Kong-based Lioness Limited for $500.
- The Class B stake represented 96.44% of total voting power, based on 1,845,453 Class A shares and 500,000 Class B shares outstanding.
- Class B shares carry 100 votes per share, versus one vote per Class A share.
- Zhang kept his roles as chairman, CEO, and interim CFO following the transaction.
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