Lianteng Limited holds 10,912,168 Troops ordinary shares, representing 8.9% of the company’s ordinary shares, after receiving the stock in connection with a $13,400,000 Riches Holdings transaction. The position matters because Lianteng says its purpose may include acquiring more securities, disposing of securities or seeking to influence Troops management or its board.

Key Highlights

  • Lianteng Limited’s reported holding equals 8.9% of Troops’ ordinary shares.
  • The shares were transferred for consideration of $13,400,000.
  • Lianteng may review its position and seek influence over management or the board.

Lianteng Limited holds 10,912,168 ordinary shares of Troops, a position reported at 8.9%. The shares were received on December 11, 2024, after a transaction involving Riches Holdings.

$13,400,000 Riches Holdings Transaction

Lianteng, a company incorporated in Hong Kong with limited liability, received the shares as consideration for the purchase of Riches Holdings. Troops agreed on May 9, 2024, to acquire all issued and outstanding shares of Riches Holdings for $13,400,000, with the consideration represented by a convertible Promissory Note of the same principal amount. The note was issued on May 9, 2024, and carries a Maturity date of May 9, 2029. Riches Holdings holds subsidiaries in Hong Kong and China providing financial and insurance advisory services, immigration consultation, overseas education advisory and application services, and property agency services through a mobile application. Lianteng received $6,700,000 conversions into 5,473,856 ordinary shares and 5,438,312 ordinary shares following notices dated December 9 and December 10, 2024. The resulting 10,912,168-share conversion was completed on December 11, 2024. The ordinary shares are identified with a Par Value of US$0.0004 per share in the position details, while the conversion descriptions state $0.004 per share.

Lianteng May Seek Additional Securities

Lianteng says its purpose may involve acquiring additional Troops securities or disposing of securities. It may also review or change its position and develop proposals concerning Troops’ Business and affairs. The statement says Lianteng may seek to influence management or the board of directors. Lianteng and, to its knowledge, its directors and executive officers have not been convicted in a criminal proceeding or subjected to specified securities-law judgments, decrees or final orders during the last five years.