THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
CRITICISM
Medtech Group Company Limited
(the Company)
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The Stock Exchange of Hong Kong Limited (the Exchange) hereby publicly criticises the Company in relation to its failure to send and publish its interim report and interim results for the six months ended 30 June 2002 on time. The failure constituted breaches of the Listing Agreement. |
At a disciplinary hearing held on 9 December 2003 (the "Disciplinary Hearing"), the Listing Committee of the Exchange conducted a hearing into the conduct of the Company.
The Company was required under: (i) paragraph 10(1) of the Listing Agreement to send to its shareholders its interim report no later than three months of its half-year; and (ii) paragraph 11(6) of the Listing Agreement to publish in the newspapers a preliminary announcement in respect of its interim results within three months of its half-year. For the half-year ended 30 June 2002, the Company only sent and published its interim report and interim results on 27 November 2002.
The Disciplinary Hearing was conducted into possible breaches by the Company of its obligations under paragraphs 10(1) and 11(6) of the Listing Agreement. The Company admitted breaching the said provisions.
The Listing Committee attaches great importance to compliance with these provisions, which are designed to ensure prompt dissemination of essential financial information on the affairs of the Company to the shareholders and the public.
The Listing Committee concluded that the Company was in breach of paragraphs 10(1) and 11(6) of the Listing Agreement.
Accordingly, the Listing Committee hereby publicly criticises the Company for breaching paragraphs 10(1) and 11(6) of the Listing Agreement.
For the avoidance of doubt, the Exchange confirms that this public statement which involves criticism applies only to the Company and not to any other past or present members of the Board of Directors of the Company.