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Announcement – In relation to the matter of Greens Holdings Ltd (In Provisional Liquidation) (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1318) Cancellation of listing

Regulatory
30 Jun 2020

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
Greens Holdings Ltd 
(In Provisional Liquidation)
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1318) 

Cancellation of listing

The Stock Exchange of Hong Kong Limited (the “Exchange”) announces that with effect from 9:00 am on 6 July 2020, the listing of the shares of Greens Holdings Ltd (the “Company”) will be cancelled in accordance with the delisting procedures under Practice Note 17 of the Listing Rules.

 

The Exchange announces that the listing of the Company’s shares will be cancelled with effect from 9:00 am on 6 July 2020 in accordance with the delisting procedures under Practice Note 17 of the Listing Rules.

Trading of the Company’s shares was suspended on 2 June 2015 pending the release of an inside information announcement.  Subsequently, the Company failed to maintain a sufficient level of operation or assets under Rule 13.24. On 8 October 2015, provisional liquidators were appointed to the Company.

The Exchange placed the Company into the first, second and third delisting stages on 14 October 2015, 14 April 2016 and 11 May 2017 respectively.  Before expiry of the third delisting stage, the Company submitted a resumption proposal on 23 October 2017 involving an acquisition which would constitute a reverse takeover subject to the new listing requirements (the “Proposal”).

On 8 December 2017, the Exchange allowed the Company to submit a new listing application relating to the Proposal (but not any other proposal) by 16 April 2018. On 8 May 2020, given the recent developments of the Proposal, the Listing Committee considered the Proposal no longer viable and therefore decided to cancel the listing of the Company’s shares on the Exchange (the “Decision”).

On 19 May 2020, the Company applied for a review of the Decision. On 26 June 2020, the Company withdrew the review application. Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 am on 6 July 2020.

The Exchange has requested the Company to publish an announcement on the cancellation of the Company’s listing.

The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.

 

Ends

Updated 30 Jun 2020