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Screenshot of a breaking news alert e-mail from Q2 2017
The Listing Committee of The Stock Exchange of Hong Kong Limited has censured Mr Xu Chun Cheng, a former executive director and chief financial officer of Tianli Holdings Group Limited, formerly known as EYANG Holdings (Group) Co., Limited (117:Hong Kong), for breaching his obligations under the Declaration and Undertaking with regard to Directors given to The Stock Exchange of Hong Kong Limited in the form set out in Appendix 5B to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the Exchange Listing Rules), and stating that Mr Xu’s conduct in this matter will be taken into account in assessing his suitability under Rule 3.09 of the Exchange Listing Rules in the event that he should wish to become a director of any issuer listed on the Exchange in the future.
A director’s compliance with his Director’s Undertaking to cooperate in the Exchange’s investigation into possible Listing Rule breaches underpins the Exchange’s ability to regulate issuers and directors, and therefore is of utmost importance in enabling the Exchange to discharge its function to maintain and regulate an orderly market.
Failure to comply without reasonable excuse will, in appropriate cases, lead to public sanction and will be taken into account in the Exchange’s consideration of suitability of the individual concerned to be appointed as a director of a listed issuer in Hong Kong.
For the avoidance of doubt, the Exchange confirms that the above sanction applies only to Mr Xu and not to any other past or present members of the board of directors of Tianli Holdings Group Limited.
On 19 July 2016, the Listing Committee conducted a hearing into the conduct of Mr Xu in relation to his obligations under the Director’s Undertaking.
To see the full announcement, click here.