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)
ANNOUNCEMENT
In relation to the matter of
AcrossAsia Limited
(Stock Code: 8061)
Cancellation of listing
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The Stock Exchange of Hong Kong Limited (the “Exchange”) announces that with effect from 9:00 a.m. on 13 June 2017, the listing of the shares of AcrossAsia Limited (the “Company”) will be cancelled on the Exchange under GEM Listing Rule 9.14.
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The Exchange announces that the listing of the Company’s shares will be cancelled with effect from 9:00 a.m. on 13 June 2017 under GEM Listing Rule 9.14.
On 8 November 2016, the Company announced that it had lost control over P T First Media Tbk (“First Media”), its only operating subsidiary and decided to deconsolidate it from the Company’s financial statements. Therefore, the Company was unable to maintain sufficient level of operations or assets with sufficient value as required under GEM Rule 17.26 to warrant its continued listing.
On 18 November 2016, the Exchange proposed to exercise its rights under GEM Listing Rule 9.14 to cancel the Company’s listing and gave the Company a period of six months to submit a viable resumption proposal. The Company failed to submit any resumption proposal to the Exchange before expiry of the six-month period. Therefore, the Exchange will cancel the Company’s listing with effect from 9:00 a.m. 13 June 2017.
The Exchange has notified the Company of its obligation under GEM Listing Rule 9.17 to publish an announcement providing details of the Exchange’s decision and the consequences to shareholders of the Company.
The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.
Ends