The Exchange announces that the listing of the Company's shares will be cancelled with effect from 9:00 am on 11 September 2025 under Rule 6.01A(1).
Trading in the Company’s shares has been suspended since 3 April 2023. Under Rule 6.01A(1), the Exchange has the right to delist the Company if trading did not resume by 2 October 2024.
The Company failed to fulfill the resumption guidance set by the Exchange and resume trading in its shares by 2 October 2024. On 18 October 2024, the Listing Committee decided to cancel the listing of the Company’s shares on the Exchange under Rule 6.01A(1).
On 28 October 2024, the Company sought a review of the Listing Committee’s decision by the Listing Review Committee. On 13 December 2024, the Listing Review Committee upheld the decision of the Listing Committee to cancel the Company’s listing. On 15 January 2025, the Company applied to the Court of First Instance (CFI) for leave for judicial review of the decision of the Listing Review Committee (the Application. On 25 March 2025, the CFI made an order ordering that the Application be dismissed.
On 11 July 2025, the Company filed a notice of appeal to the Court of Appeal to review the CFI’s decision to dismiss the Application (the Appeal).
On 1 August 2025, the Company filed summons to the CFI for interim injunction to restrain the Exchange from cancelling the listing of the Company pending determination of the Appeal (the Injunction Summons). On 13 August 2025, the CFI made a decision ordering the Injunction Summons be dismissed.
As the Company has not obtained any injunction preventing the Exchange from proceeding with the delisting, the Exchange will proceed with the cancellation of listing of the Company’s shares.
Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 am on 11 September 2025. 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