SCHEDULE 13G: Fung Ko Discloses Significant 12.66% Passive Stake in Chijet Motor Company
Beneficial Ownership Disclosure
Fung Ko has disclosed a 12.66% beneficial ownership stake in Chijet Motor Company, Inc., comprising both direct shares and shares issuable from warrants, filed as a Schedule 13G.
Summary
- Fung Ko reported beneficial ownership of 1,000,000 Ordinary Shares of Chijet Motor Company, Inc. (the "Issuer").
- This ownership represents 12.66% of the company's Ordinary Shares.
- The stake consists of 250,000 directly held Ordinary Shares and 750,000 Ordinary Shares issuable upon the exercise of warrants.
- The percentage is calculated based on a denominator of 7,898,648 Ordinary Shares, which includes 7,148,648 Ordinary Shares outstanding as of January 7, 2025 (information provided by the Issuer) and the 750,000 shares from warrants.
- Fung Ko holds sole voting power and sole dispositive power over all 1,000,000 beneficially owned shares.
- The filing is a Schedule 13G, indicating that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would significantly alter the company's perceived value or prospects, indicating a neutral sentiment.
Positives
- A significant individual investor, Fung Ko, has taken a 12.66% stake in Chijet Motor Company, Inc., which could be interpreted as a vote of confidence in the company's future prospects.
Future Outlook
NA
Management Comments
- Fung Ko certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.
Industry Context
This filing is a standard disclosure of a significant ownership stake and does not provide specific industry context or trends.
Stakeholder Impact
- Shareholders: Increased transparency regarding a significant investor's stake in the company.
Key Dates
| Date | Description |
|---|---|
| 01/07/2025 | Date of the event which required the filing of this statement, and the date as of which the total outstanding shares were reported by the Issuer. |
| 01/17/2025 | Date the Schedule 13G statement was signed by Fung Ko. |
Keywords
Chijet Motor Company, Fung Ko, Ordinary Shares, Warrants, Beneficial Ownership, SEC Filing, Schedule 13G, Passive Investment, Shareholder
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