ANNOUNCEMENT - In relation to the matter of Zhejiang Glass Company, Limited (Administrator appointed under the Enterprise Bankruptcy Law of the PRC) (Stock Code: 739) Cancellation of listing
Regulatory
30 May 2013
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 Zhejiang Glass Company, Limited
(Administrator appointed under the Enterprise Bankruptcy Law of the PRC)
(Stock Code: 739)
Cancellation of listing
|
The Stock Exchange of Hong Kong Limited (the Exchange) hereby announces that with effect from 9:00 am on 31 May 2013, the listing of the shares of Zhejiang Glass Company, Limited (Administrator appointed under the Enterprise Bankruptcy Law of the PRC) (the Company) will be cancelled under Practice Note 17 to the Listing Rules (PN 17).
|
The Exchange announces that the listing of the Company’s shares will be cancelled with effect from 9:00 am on 31 May 2013 in accordance with the delisting procedures stipulated in PN 17 (the Delisting Procedures). PN 17 formalises the procedures to be adopted to delist long-suspended companies.
Dealings in the Company’s shares have been suspended since 3 May 2010. Accordingly, dealings in the Company’s shares have effectively been suspended for about three years.
On 7 November 2012, the Company was placed in the third stage of the Delisting Procedures. Under the Delisting Procedures, the Company is required to submit a viable resumption proposal at least 10 business days before the expiry of the six-month period for the third stage. If the Company has not submitted a viable resumption proposal as required, the Exchange will cancel the listing of the Company’s shares. As the Company has not submitted a resumption proposal to the Exchange prior to expiry of the third stage, the Exchange will cancel the Company’s listing.
The Exchange has notified the Company of its obligation under paragraph 3.1 of PN 17 to issue an announcement on the cancellation of its listing on the same day of this announcement.
The Exchange advises the Company’s shareholders who have any queries about the implications of the delisting to obtain appropriate professional advice.
Ends