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 China Forestry Holdings Co., Ltd.
(In Official Liquidation)
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 930)
Proceeding to third stage of delisting procedures
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The Stock Exchange of Hong Kong Limited (the "Exchange") places China Forestry Holdings Co., Ltd. (the "Company") into the third delisting stage today. If no viable resumption proposal is received by the end of the third delisting stage (i.e. 2 February 2017), the Company's listing will be cancelled.
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Trading of the Company's shares was suspended on 26 January 2011 as its auditors had identified possible irregularities during the audit process in respect of the Company’s financial year ended 31 December 2010.
By 8 July 2015 the Exchange was of the view that the Company did not comply with the requirement to have sufficient operations or assets under Rule 13.24. The Exchange placed the Company into the first and second delisting stages on 8 July 2015 and 13 January 2016 respectively. At the end of the second delisting stage on 12 July 2016, the Company did not provide any resumption proposal. Therefore, the Exchange has decided to place the Company into the third delisting stage under Practice Note 17 to the Listing Rules.
The Company will have a final six months to provide a viable resumption proposal to demonstrate sufficient operations or assets as required under Rule 13.24 and to have the winding up order against the Company withdrawn or dismissed and the joint official liquidators discharged.
The Company must also:
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address the issues arisen from the forensic investigation findings as disclosed in the Company's announcement of 27 April 2012;
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publish all outstanding financial results and address any audit qualifications; and
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demonstrate that it has put in place adequate financial reporting procedures and internal control systems to meet its Listing Rule obligations. |
If no viable resumption proposal is received by the end of the third delisting stage (i.e. 2 February 2017), the Company's listing will be cancelled. The Exchange will make a further announcement if the delisting takes place.
Ends