Announcement - In relation to the matter of Centron Telecom International Holding Limited (the “Company”) (the “Company” and, together with its subsidiaries, the “Group”) (Stock code: 1155) Proceeding to third stage of delisting procedures

香港聯合交易所有限公司
(香港交易及結算所有限公司全資附屬公司)
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

Centron Telecom International Holding Limited (the “Company”)
(the “Company” and, together with its subsidiaries, the “Group”)
(Stock code: 1155)

Proceeding to third stage of delisting procedures
  

 
Trading in the Company’s shares has been suspended since 3 April 2018 due to the Company’s failure to publish the annual result announcement for the year ended 31 December 2017 by 31 March 2018.  Subsequently, it also failed to publish the interim result announcement for the 6 months ended 30 June 2018 and annual result announcement for the year ended 31 December 2018.

On 25 May 2018, the Company filed a petition in the Grand Court of the Cayman Islands for an order that the Company be wound up (the “Grand Court Order”).  The Company also filed a summons for the appointment of joint provisional liquidators (“JPLs”) on the grounds that the Company is unable to pay its debts and it intends to present a compromise or arrangement to its creditors.  On 12 June 2018, two joint provisional liquidators were appointed by the Grand Court.  On 16 October 2018, the Grand Court Order and appointment of the JPLs were recognised by the High Court of Hong Kong.

On 6 June 2018, the Listing Department placed the Company into the first delisting stage under Practice Note 17 to the Listing Rules as it was of the view that the Company did not comply with the requirement to have sufficient operations or assets under Rule 13.24.

The Exchange placed the Company into the second delisting stage on 6 December 2018.  At the end of the second delisting stage on 5 June 2019, the Company did not provide any resumption proposal.  Therefore, the Exchange has decided to place the Company into the third delisting stage under Practice Note 17 to the Listing Rules.

The Company will have final six months to provide a viable resumption proposal to demonstrate sufficient operations or assets as required under Rule 13.24.

If no viable resumption proposal is received by the end of the third delisting stage (ie 27 December 2019), the Company’s listing will be cancelled.  The Exchange will make a further announcement if the delisting takes place.

Ends