Exchange’s Disciplinary Action against Two Former Directors of Biosino Bio-Technology and Science Incorporation (Stock Code: 8247)
Regulatory
24 Oct 2022
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 Stock Exchange of Hong Kong Limited
IMPOSES A DIRECTOR UNSUITABILITY STATEMENT against:
- Mr Chen Jintian, former vice-chairman and executive director of the Company; and
- Mr Chen Jianhua, former executive director of the Company.
The statements made in respect of the directors above are made in addition to a public censure against them. The Director Unsuitability Statement is a public statement that, in the Exchange’s opinion, each of the directors is unsuitable to occupy a position as director or within senior management of the Company or any of its subsidiaries.
The Listing Division made enquiries with the above directors in relation to, among other things, repayment of certain loans granted to a subsidiary of the Company prior to the disposal of the subsidiary. The directors were the main directors involved in the repayment discussions at the time, neither director responded to the Division’s investigation letter.
Key messages:
Directors have an obligation to cooperate with the Exchange in its enquiries. This obligation continues to exist even if they are no longer directors of the Company.
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