.At the disciplinary hearing held on 21 August 2001 (the "Disciplinary Hearing"), the Listing Committee of the Exchange (the "Listing Committee") conducted a hearing into the conduct of the Company and the current directors and former directors of the Company, including Mr Kong Yick Ming (Chairman), Mr Kong Yat Che, Mr Kong Yik Kam, Ms Li Yin Sheung and Mr Wong Chi Kwong.
The Disciplinary Hearing was conducted in respect of the breaches by the Company of Paragraph 8(1) of the Listing Agreement to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the "Exchange Listing Rules") by the late despatch by the Company of its annual report and audited accounts for the financial years ended 31 March 1999 and 31 March 2000 respectively. The Company and each of the Directors have acknowledged these breaches by the Company of the Listing Agreement. Mr Kong Yat Che, Mr Kong Yik Kam, Ms Li Yin Sheung and Mr Wong Chi Kwong are responsible only for the breach of Paragraph 8(1) of the Listing Agreement for the late despatch of the annual report and audited accounts for the financial year ended 31 March 1999 as they all resigned on 12 January 2000. Mr Kong Yick Ming is responsible in both the accounts to 31 March 1999 and 2000.
The Listing Committee has also found by virtue of these breaches by the Company of the Listing Agreement, that each of the Directors breached his obligations under the Declaration and Undertaking with regard to Directors given by him to the Exchange in the form set out in Appendix 5B of the Exchange Listing Rules (the "Directors Undertaking"), whereby they each individually undertook to comply to the best of his abilities with the Exchange Listing Rules from time to time in force, and to use his best endeavours to procure that the Company of which he is a director would so comply.
Accordingly, the Company and each of the Directors are hereby publicly censured by the Listing Committee for the breaches of Paragraph 8(1) of the Listing Agreement and breaches of the Directors Undertaking respectively.
For the avoidance of doubt, the Exchange confirms that it is not in relation to this matter publicly censuring any other current or former directors of the Company save for the above mentioned Directors.