Exchange’s Disciplinary Action against Two Former Directors of China Bozza Development Holdings Limited (Stock Code: 1069)
Regulatory
06 Mar 2023
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:
(1) Ms Lu Wei, former executive director; and
(2) Professor Liu Zhikun, former non-executive director of China Bozza Development Holdings Limited (stock code: 1069).
The statement made in respect of the above directors is made in addition to a public censure against each of them. The Director Unsuitability Statement is a statement that, in the Exchange’s opinion, each of Ms Lu and Professor Liu is unsuitable to occupy a position as director or within senior management of the Company or any of its subsidiaries.
The Listing Division sent letters to Ms Lu and Professor Liu as part of an investigation into their discharge of directors’ duties and obligations under the Listing Rules. They did not respond and failed to cooperate in the Exchange’s investigation.
Key messages:
Directors of listed issuers have an obligation to cooperate with the Exchange in its investigation. Such obligation does not lapse after cessation of directorship.
Failure to cooperate is a serious breach of the Listing Rules and can result in the imposition of the most serious sanction as in this case.
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