香港聯合交易所有限公司
(香港交易及結算所有限公司全資附屬公司)
THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

ANNOUNCEMENT

In relation to the matter of Sing Pao Media Enterprises Limited
(Provisional Liquidators Appointed)
(Stock Code: 8010)

Cancellation of listing

The Stock Exchange of Hong Kong Limited (the "Exchange") announces that with effect from 9:00 am on 18 August 2015, the listing of the shares of Sing Pao Media Enterprises Limited (Provisional Liquidators Appointed) (the "Company") will be cancelled on the Exchange under GEM Rule 9.14.

 

The Exchange announces that the listing of the Company's shares will be cancelled with effect from 9:00 am on 18 August 2015 under GEM Listing Rule 9.14.

Trading in the Company's shares has been suspended for more than 10 years since 28 April 2005. On 27 May 2011, the Exchange proposed to exercise its rights under GEM Listing Rule 9.14 to cancel the listing of the Company’s shares on the Exchange. The Company was required to submit a viable resumption proposal within six months. If the Company failed to do so, the Exchange would cancel the Company's listing.

The Company submitted a resumption proposal before expiry of the six-month period and the proposal was subsequently revised several times. In January 2015, the Company submitted its final resumption proposal, under which, it would continue the traditional newspaper publication business with a new business plan of launching new magazines, enhancing the contents of the newspaper, and distributing the content of its newspaper and magazines through enhanced official website and mobile apps. The Committee considered the proposal not viable and decided to cancel the Company's listing.

On 1 April 2015, the Company sought a review by the GEM Listing (Review) Committee on the delisting decision. On 10 July 2015, the GEM Listing (Review) Committee upheld the GEM Listing Committee's decision to cancel the Company's listing. Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 am on 18 August 2015.

The Exchange has notified the Company of its obligation under GEM Listing Rule 9.17 to publish an announcement providing details of the Exchange's decision and the consequences to the Company’s shareholders.

The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.

Ends