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
China Nonferrous Metals Company Limited
(Incorporated in Bermuda with limited liability)
(Stock Code: 8306)
Cancellation of listing
The Stock Exchange of Hong Kong Limited (the “Exchange”) announced that with effect from 9:00 am on 16 August 2019, the listing of the shares of China Nonferrous Metals Company Limited (the “Company”) will be cancelled under GEM Listing Rule 9.14.
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The Exchange announces that the listing of the Company's shares will be cancelled with effect from 9:00 am on 16 August 2019 under GEM Listing Rule 9.14.
Trading in the Company’s shares has been suspended since 1 April 2015. Accordingly, dealings in the Company’s shares have been suspended for over 4 years.
On 7 May 2018, the Company submitted a resumption proposal (the “Proposal”) to the Exchange involving an acquisition which constitutes a reverse takeover and a new listing application.
On 18 May 2018, the Exchange allowed the Company to submit a new listing application relating to the Proposal (but not any other proposal) by 30 June 2018. If the Company fails to do so or the Proposal fails to proceed for any reasons, the Exchange will proceed with cancelling the Company’s listing.
On 29 June 2018, the Company submitted the new listing application for the Proposal.
On 30 November 2018, the Company announced the potential offeror’s decision not to pursue the reverse takeover under the Proposal.
On 3 December 2018, the Company submitted another resumption proposal involving a reverse takeover (the “New Proposal”).
On 7 December 2018, the GEM Listing Committee considered the Proposal no longer viable as the reverse takeover under the Proposal would not proceed. The New Proposal is a different resumption proposal. Therefore, the Listing Committee decided to cancel the listing of the Company’s shares on the Exchange.
On 21 March 2019, the GEM Listing (Review) Committee upheld the GEM Listing Committee’s decision to cancel the listing of the Company’s shares on the Exchange. On 27 March 2019, the Company sought a review of the delisting decision by the Listing Appeals Committee. On 9 August 2019, the Listing Appeals Committee upheld the GEM Listing (Review) Committee’s decision to cancel the listing of the Company’s shares on the Exchange. Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 am on 16 August 2019.
The Exchange has requested the Company to publish an announcement on the cancellation of its listing.
The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.
Ends