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 Proview International Holdings Limited
(Stock Code: 334)
Proceeding to third stage of delisting procedures
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The Stock Exchange of Hong Kong Limited (the “Exchange”) places the Company in the third delisting stage today. The Exchange intends to cancel the listing after the six-month period (i.e. 29 June 2012) if the Company does not provide a viable resumption proposal.
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Trading of the Company’s shares was suspended on 2 August 2010. At the end of the second delisting stage, the Company has not provided a resumption proposal to demonstrate it has sufficient operations or assets for listing. Therefore, the Exchange places the Company in the third delisting stage today under Practice Note 17 to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “Rules”).
The Company will have a final six months to provide a viable resumption proposal. The resumption proposal needs to:
| (i) |
demonstrate sufficient operations or assets under Rule 13.24;
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| (ii) |
demonstrate sufficient working capital for at least twelve months from resumption date;
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| (iii) |
publish outstanding financial results and address any audit qualifications; and
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| (iv) |
demonstrate adequate financial reporting and internal control systems to meet Listing Rules obligations. |
The Exchange intends to cancel the listing after the six-month period (i.e. 29 June 2012) if the Company does not provide a viable resumption proposal. The Exchange will make further announcement if the delisting takes place.
Ends