THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

 

CRITICISM

of

Rontex International Holdings Limited (“the Company”)

for delay in publication and despatch of its annual results and
annual report for the year ended 31 March 2005

The Stock Exchange of Hong Kong Limited (the “Exchange”) hereby publicly criticises the Company: for failing to publish on time its annual results for the year ended 31 March 2005 thereby breaching Rule 13.49(1) of the Listing Rules; and for failing to despatch its annual report for the year ended 31 March 2005 thereby breaching Rule 13.46(2)(a) of the Listing Rules.

Late publication and despatch of annual accounts for the year ended 31 March 2005

The Company was required to send to its shareholders its annual report and to publish in the newspapers its annual results within four months from the end of its financial year, i.e. on or before 31 July 2005. 

For the financial year ended 31 March 2005, the Company’s annual results and annual report (including audited accounts) were not published and sent to shareholders until 14 September 2005 and 21 September 2005 respectively, being 1 month and 14 days and 1 month and 21 days respectively after the prescribed deadline. 

The Company has admitted breaching the provisions of Rules 13.49(1) and 13.46(2)(a) of the Listing Rules.

Having considered the foregoing facts and the representations made by the parties concerned, the Listing Committee has concluded that the Company was in breach of Rules 13.49(1) and 13.46(2)(a) of the Listing Rules.

Accordingly, the Listing Committee hereby criticises the Company for the breaches mentioned above.

The Exchange confirms that this criticism applies only to the Company and not to any past or present member of the Board of Directors of the Company.

Richard Williams, Head of Listing, said, “It is of utmost importance that shareholders and the market are fully informed on a timely basis and that therefore listed companies must publish their financial results and dispatch their financial reports which are fundamental disclosure obligations within the clearly established time frame.  Enforcement action will certainly be taken against listed issuers who fail to comply with such basic obligations.”