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)
The GEM Listing Committee of The Stock Exchange of Hong Kong Limited
CENSURES:
Mr Wen Kai, former independent non-executive director.
AND STATES THAT in the Exchange’s opinion, by reason of his failure to discharge his responsibilities under the GEM Listing Rules, had Mr Wen remained on the board of directors of the Company, his retention of office would have been prejudicial to the interests of investors.
Mr Wen was under investigation by the Listing Division for potential breaches of the GEM Listing Rules. Although the Division established contact with Mr Wen, and reminded him to respond to the Exchange’s enquiries, he failed to do so. Accordingly, Mr Wen breached his Undertaking by failing to cooperate.
Key Messages:
Directors are expected to cooperate with, and respond to, the Exchange’s enquiries in connection with an investigation of possible Listing Rule breaches. Merely establishing contact with the Division does not amount to cooperation.
Failure by directors to cooperate with the Exchange's investigation may result in the imposition of severe sanctions.
|
Ends