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 Hontex International Holdings Company Limited
(Stock Code: 946)
Cancellation of listing
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The Stock Exchange of Hong Kong Limited (the Exchange) announces that with effect from 9:00 am on 23 September 2013, the listing of the shares of Hontex International Holdings Company Limited (the Company) will be cancelled.
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The Exchange announces that the listing of the Company’s shares will be cancelled with effect from 9:00 am on 23 September 2013 under the Listing Rules.
Trading in the Company’s shares has been suspended since 30 March 2010 under the direction of the Securities and Futures Commission (the SFC). On 23 November 2012, the Listing Committee decided to cancel the listing of the Company’s shares.
The Listing Committee arrived at its decision having considered th
e following:
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The Listing Committee’s belief that the Company had:-
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disclosed materially false or misleading information in its prospectus of initial public offer dated 14 December 2009 which was likely to have induced investors to subscribe for and purchase the Company’s shares; and
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provided false or misleading information to the Exchange in the Company’s initial listing application.
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| 2. |
On 29 October 2012, the Company announced the completion of the repurchase offer made in accordance with the Court order under the legal proceedings brought by the SFC. Under the repurchase offer, the Company repurchased 24.68 per cent of its shares, resulting in the current public shareholding of 6,334,000 shares in the Company or 0.42 per cent of its issued share capital. The Company failed to meet the minimum public float requirement. |
In this connection, the Listing Committee allowed the Company to provide an appropriate submission by 31 December 2012.
On 3 December 2012, the Company requested a review of the Listing Committee’s decision. On 25 February 2013, the Listing (Review) Committee upheld the Listing Committee’s decision to cancel the Company’s listing. On 6 March 2013, the Company sought a further review of the delisting decision by the Listing Appeals Committee. On 9 September 2013, the Listing Appeals Committee decided to uphold the Listing (Review) Committee’s decision to cancel the Company’s listing.
Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 am on 23 September 2013.
The Exchange advises shareholders of the Company who have queries about the implications of the delisting to obtain appropriate professional advice.
Ends