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 STATEMENT1 and CENSURE against:
(1) Mr Dai Shunhua, executive director, chairman and chief executive officer of Narnia (Hong Kong) Group Company Limited (Delisted, Previous Stock Code: 8607) at the time of delisting; and
(2) Ms Song Xiaoying, executive director at the time of delisting.
The Exchange conducted an investigation concerning whether Mr Dai and Ms Song discharged their directors’ duties. As part of the investigation, the Exchange sent investigation and reminder letters to each of them. They responded to some but not all of the Exchange’s enquiries.
Key messages:
Cooperation with the Exchange is essential. Directors are reminded to fully cooperate with the Exchange in its investigation. A failure to cooperate includes a failure to provide substantive responses to some or all of the Exchange’s enquiries.
Failure to cooperate in the Exchange’s investigation is a serious breach of the Listing Rules and may result in the most serious disciplinary sanction. A director’s obligation to cooperate does not lapse after an issuer ceases to be listed on the Exchange.
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Note:
1. The Director Unsuitability Statement is a statement that, in the Exchange’s opinion, Mr Dai and Ms Song are unsuitable to occupy a position as director or within senior management of the Company or any of its subsidiaries.
Ends