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 Wanasports Holdings Limited
(Stock Code: 8020)
Cancellation of listing
in accordance with Rule 9.14 of the
Rules Governing the Listing of Securities on The Growth Enterprise Market of
The Stock Exchange of Hong Kong Limited (the “GEM Listing Rules”)
| The Exchange hereby announces that with effect from 9:30 a.m. on 20 March 2006, the listing of the shares of the Company will be cancelled pursuant to Rule 9.14 of the GEM Listing Rules. By the end of the deadline mentioned below, the Company has failed to submit a viable resumption proposal. Therefore, the Exchange will cancel the listing of the Company’s shares in accordance with the Rule 9.14 of the GEM Listing Rules. |
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The Stock Exchange of Hong Kong Limited (the “Exchange”) announces that the listing of the shares of Wanasports Holdings Limited (the “Company”) will be cancelled with effect from 9:30 a.m. on 20 March 2006 in accordance with Rule 9.14 of the GEM Listing Rules.
Dealings in the shares of the Company have been suspended since 24 June 2003. On 24 May 2005, the Company announced that the Exchange proposed to exercise its right to cancel the listing of the shares of the Company on the Exchange. The Company was given a period of six months (expiring on 19 November 2005) for the submission of a viable resumption proposal and to remedy those matters that gave rise to the Exchange’s proposal to cancel the listing of the Company. The Company was required to submit such resumption proposal at least 10 business days as defined in the GEM Listing Rules before the expiry of the six-month period. Following the suspension of dealings in the Company’s shares and before the end of the six-month period, the Company submitted a resumption proposal to the Exchange. However, the GEM Listing Committee decided that the proposal did not amount to a viable resumption proposal and that the listing of the Company’s shares on the Exchange should be cancelled. The Company requested a review of the GEM Listing Committee’s decision, but the GEM Listing (Review) Committee decided to uphold the GEM Listing Committee’s decision. As the Company has failed to submit a viable resumption proposal as required, the Exchange will cancel the listing of the Company’s shares.
The Exchange has notified the Company of its obligation under Rule 9.17 to publish an announcement providing details of the Exchange’s decision or requirements and the consequences to shareholders of the Company.
The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.