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Announcement – In relation to the matter of Centron Telecom International Holding Limited (In Provisional Liquidation) (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1155) Cancellation of listing

Regulatory
26 Nov 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
Centron Telecom International Holding Limited
(In Provisional Liquidation)
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1155)

Cancellation of listing

The Stock Exchange of Hong Kong Limited (the “Exchange”) announces that with effect from 9:00 am on 1 December 2020, the listing of the shares of Centron Telecom International Holding Limited (the “Company”) will be cancelled in accordance with the delisting procedures under Practice Note 17 to the Listing Rules.

 

The Exchange announces that the listing of the Company’s shares will be cancelled with effect from 9:00 am on 1 December 2020 in accordance with the delisting procedures under Practice Note 17 to the Listing Rules.

Trading of the Company’s shares was suspended on 3 April 2018 due to failure to publish its results announcements for the year ended 31 December 2017 and subsequent financial periods.

Subsequently, winding-up proceedings were commenced against the Company due to its inability to pay debts. As a result, in June 2018, joint and several liquidators were appointed to the Company. The winding-up proceedings are on-going.

On 6 June 2018, the Listing Division placed the Company into the first delisting stage under Practice Note 17 to the Listing Rules given its failure to have sufficient operations or assets as required under Rule 13.24.  Without any resumption proposal, the Company was placed into the second and third delisting stages on 6 December 2018 and 26 June 2019, respectively.

Before expiry of the third delisting stage on 27 December 2019, the Company submitted a resumption proposal to the Exchange.  On 21 February 2020, the Listing Committee considered the resumption proposal not viable and therefore decided to cancel the Company’s listing under Practice Note 17 to the Listing Rules.

On 28 February 2020, the Company sought a review by the Listing (Review) Committee on the delisting decision.  On 8 July 2020, the Listing (Review) Committee upheld the Listing Committee’s decision to cancel the listing of the Company’s shares on the Exchange.

On 15 July 2020, the Company sought a review by the Listing Appeals Committee on the delisting decision.  On 24 November 2020, the Company withdrew the review application. Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 am on 1 December 2020.

The Exchange has notified the Company of its obligations under paragraph 3.1 of PN17 to issue an announcement informing the public of 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 26 Nov 2020