Announcement – In relation to the matter of Changgang Dunxin Enterprise Company Limited (in Provisional Liquidation) (Stock Code: 2229) Cancellation of listing
THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
In relation to the matter of
Changgang Dunxin Enterprise Company Limited (in Provisional Liquidation)
(Stock Code: 2229)
Cancellation of listing
|The Stock Exchange of Hong Kong Limited (the “Exchange”) announces that with effect from 9:00 am on 16 October 2019, the listing of the shares of Changgang Dunxin Enterprise Company Limited (in Provisional Liquidation) (the “Company”) will be cancelled in accordance with the delisting procedures under Practice Note 17 to the Listing Rules (the “Delisting Procedures”).
The Exchange announces that the listing of the Company’s shares will be cancelled with effect from 9:00 am on 16 October 2019 in accordance with the Delisting Procedures. Practice Note 17 to the Listing Rules formalises the procedures to be adopted to delist long-suspended companies.
Dealings in the Company’s shares have been suspended for over three years since 20 January 2016. Before expiry of the third (final) delisting stage on 4 January 2019, the Company submitted a resumption proposal, which involves a reverse takeover, to the Exchange. However, subsequently the potential investor decided not to proceed with the reverse takeover. On 27 September 2019, the Listing Committee considered that the Company does not have a viable resumption proposal and therefore decided to cancel the listing of the Company’s shares on the Exchange.
The Exchange has notified the Company of its obligation under paragraph 3.1 of Practice Note 17 to issue an announcement informing the public of the cancellation of the Company’s listing.
The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.