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
IMPOSES A DIRECTOR UNSUITABILITY STATEMENT and CENSURE against:
1. Mr Gan Lin, the executive director at the time of delisting of GSN Corporations Limited (GSN) and former executive director of Times Universal Group Holdings Limited (Times Universal); and
2. Ms Li Nian, former executive director of GSN.
The Director Unsuitability Statement is a statement that, in the Exchange’s opinion, Mr Gan is unsuitable to occupy a position as director or within senior management of GSN or Times Universal or any of their subsidiaries, and Ms Li is unsuitable to occupy a position as director or within senior management of GSN or any of its subsidiaries.
The Listing Division conducted investigations into Mr Gan’s and Ms Li’s discharge of directors’ duties and obligations under the Listing Rules. Mr Gan and Ms Li did not respond to the Division’s investigations and reminder letters. They failed to cooperate in the investigations.
Key messages:
Failure to cooperate in the Exchange’s investigation is a serious breach of the Listing Rules.
A director's obligation to cooperate does not lapse after his or her resignation, or after an issuer ceases to be listed on the Exchange.
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The Statements of Disciplinary Action in respect of Mr Gan and Ms Li are available on the HKEX website.
Ends