香港联合交易所有限公司
(香港交易及结算所有限公司全资附属公司)
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
CENSURES:
Mr Guo Songsen, former non-executive director of Green Future Food Hydrocolloid Marine Science Company Limited (Stock Code: 1084).
AND FURTHER DIRECTS Mr Guo to attend training.
Mr Guo Songsen, a controlling shareholder of the Company (by virtue of a concert party agreement), made 44 trades in the Company’s securities on 18 trading days during the blackout periods in 2022 and 2023. Mr Guo was a director of the Company at the time. He did not comply with the Model Code requirements.
Mr Guo failed to inform the Company of his trades under a mistaken belief that the Model Code did not apply to non-executive directors. This led to the Company making an inaccurate disclosure of the controlling shareholder’s interest in an announcement.
After being notified by the Exchange about his obligations under the Model Code, Mr Guo admitted his breaches. Mr Guo has since contributed to an expedited resolution of the matter by agreeing to settle this disciplinary action.
Key messages:
All directors must ensure compliance with the requirements imposed under the Model Code, particularly the restrictions on dealing during blackout periods.
Directors must take care when providing confirmations of compliance to the listed issuer, and when approving the issuer’s announcements.
|
Ends