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
CECEP COSTIN New Materials Group Limited
(In Provisional Liquidation)
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2228)

Cancellation of listing

The Exchange announces that the listing of the Company’s shares will be cancelled with effect from 9:00 am on 14 February 2022 in accordance with the delisting procedures under Practice Note 17 to the Listing Rules.

Trading of the Company’s shares was suspended on 15 August 2016 pending the release of inside information of the Company.  

The Exchange placed the Company into the first, second and third delisting stages under Practice Note 17 to the Listing Rules on 14 December 2016, 26 June 2017 and 24 January 2018, respectively.  

Before expiry of the third delisting stage, on 23 July 2018, the Company submitted a resumption proposal to the Exchange which involved, among others, an acquisition of a target which constituted a reverse takeover under the Listing Rules. On 11 June 2021, the Listing Committee considered that the resumption proposal is no longer viable. Hence, the Listing Committee considered it appropriate for the Exchange, as it was entitled, to cancel the Company’s listing under Practice Note 17 to the Listing Rules.

On 23 June 2021, the Company sought a review of the Listing Committee’s decision by the Listing (Review) Committee. On 6 October 2021, the Listing (Review) Committee upheld the decision of the Listing Committee to cancel the Company’s listing. 

On 12 October 2021, the Company sought a review of the Listing (Review) Committee’s decision by the Listing Appeals Committee. On 27 January 2022, the Listing Appeals Committee upheld the decision of the Listing (Review) Committee’s to cancel the Company’s listing. Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 a.m. on 14 February 2022.

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