THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
ANNOUNCEMENT
In relation to First Natural Foods Holdings Limited
(Provisional Liquidators Appointed)
(Stock Code: 1076)
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.20 October 2010) if the Company does not provide a viable resumption proposal.
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Trading of the Company’s shares was suspended on 15 December 2008. At the end of the second delisting stage, the Company has not provided any resumption proposal. It does not have 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;
(ii) address audit qualifications and demonstrate adequate internal control system; and
(iii) withdraw and/or dismiss the winding-up petition and discharge the provisional liquidators.
The Company should provide the resumption proposal at least 10 business days before end of the six-month period.
The Exchange intends to cancel the listing after the six-month period (i.e. 20 October 2010) if the Company does not provide a viable resumption proposal. The Exchange will make further announcement if the delisting takes place.
Ends