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
Zhongda International Holdings Limited
(Incorporated in Bermuda with limited liability)
(Stock Code: 909)
Cancellation of listing
The Stock Exchange of Hong Kong Limited (the “Exchange”) announces that with effect from 9:00 am on 8 March 2019, the listing of the shares of Zhongda International Holdings Limited (the “Company”) will be cancelled in accordance with the delisting procedures under Practice Note 17 of the Listing Rules (the “Delisting Procedures”).
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The Exchange announces that the listing of the Company’s shares will be cancelled with effect from 9:00 am on 8 March 2019 in accordance with the Delisting Procedures. Practice Note 17 to the Listing Rules formalises the procedures to be adopted to delist long-suspended companies.
Trading of the Company’s shares was suspended on 5 September 2011 pending a clarification announcement in relation to the suspected misappropriation of funds of RMB150 million by Mr Xu Lian Guo, the suspended executive director of the Company and Mr Xu Lian Kuan, the former executive director of the Company. Subsequently, the Company has lost its control over its PRC subsidiaries.
As the Company was unable to demonstrate that it had sufficient operations or assets as required under Rule 13.24, the Exchange placed the Company into the first, second, and third delisting stages on 24 September 2015, 25 April 2016, and 18 May 2017 respectively. The Company had submitted a resumption proposal, which involved a new listing application, to the Exchange on 7 November 2017. The Company was allowed to submit the new listing application relating to the submitted resumption proposal on or before 31 May 2018. However, the Company failed to submit the new listing application by 31 May 2018. Therefore, on 8 June 2018, the Listing Committee has decided to cancel the Company’s listing under Practice Note 17 to the Listing Rules.
On 15 June 2018, the Company sought a review by the Listing (Review) Committee on the delisting decision. On 18 September 2018, the Listing (Review) Committee upheld the Listing Committee’s decision to cancel the Company’s listing. On 27 September 2018, the Company requested for a further review by the Listing Appeals Committee on the delisting decision. On 4 March 2019, the Listing Appeals Committee upheld the Listing (Review) Committee’s decision to cancel the Company’s listing. Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 am on 8 March 2019.
The Exchange has requested the Company to publish an announcement on the cancellation of its listing.
The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.
Ends