The Listing Committee of the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (GEM Listing Committee) has censured Mr Mei Ping, former executive director, chairman of the Board and compliance officer of China Nonferrous Metals Company Limited (Stock Code: 8306) at the material time for his breaches of:
- director’s duties under Rules 5.01(1) to (6) of the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (GLR);
- his duties as the Company’s compliance officer under GLR 5.20; and
- 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 6A to the GLR (Undertaking) for failing to comply to the best of his ability with the GLR and for failing to use best endeavours to procure the Company’s GLR compliance.
The GEM Listing Committee directs publication of its view that in the Exchange’s opinion, by reason of his willful and persistent failure to discharge his responsibilities under the GLR, had Mr P Mei remained in office, his retention of office would have been prejudicial to the interests of investors.
For the avoidance of doubt, the Exchange confirms that the above sanctions apply to Mr P Mei, and not to any other past or present members of the Board of Directors of the company.
As a consequence of settlement, Mr P Mei admits his breaches of GLR and Undertaking asserted by the Department above and accepts the sanctions imposed on him by the GEM Listing Committee.
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