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 Listing Committee of The Stock Exchange of Hong Kong Limited

CENSURES:

(1)       Alltronics Holdings Limited (Stock Code: 833);
(2)       Mr Lam Yin Kee, executive director;
(3)       Mr Lam Chee Tai Eric, executive director;
(4)       Mr So Kin Hung, executive director;
(5)       Ms Yeung Po Wah, executive director;
(6)       Ms Liu Jing, former executive director;
(7)       Mr Fan Chung Yue William, non-executive director;
(8)       Mr Yau Ming Kim Robert, independent non-executive director;
(9)       Mr Yen Yuen Ho Tony, independent non-executive director;
(10)     Mr Lin Kam Sui, independent non-executive director;

CRITICISES:

(11)     Mr Pang Kwong Wah, independent non-executive director;

AND DIRECTS all the above directors to undergo training.

The company intended to dispose of a subsidiary group for RMB100 million. The independent shareholders approved the disposal, on terms which included that RMB30 million was to be received before completion. On becoming aware that the purchaser was unable to meet the payment schedule, the company agreed to extend the time for payment, and proceeded with completion of the disposal in April 2019 despite not receiving any payment. The company neither obtained the independent shareholders’ approval which is required for such a material variation of the disposal terms nor performed sufficient due diligence on the financial capability of the payment obligors. To date, the company has not received any payment for the disposal.

The company therefore breached the Listing Rules and the directors breached their directors’ duties and undertakings to comply with the Listing Rules to the best of their ability and to use their best endeavours to procure the company’s Listing Rule compliance.

Ends