Exchange’s Disciplinary Action against Three Former Directors of YNBY International Limited (Formerly Known as Ban Loong Holdings Limited) (Stock Code: 30)
Regulatory
03 Oct 2024
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 the former directors of YNBY International Limited (Formerly Known as Ban Loong Holdings Limited) (Stock Code: 30):
- Mr Wang Minghui, former executive director and chairman;
- Mr Wang Zhaoqing, former executive director; and
- Mr Fong For, former non-executive director
The Director Unsuitability Statement is a statement that, in the Exchange’s opinion, Mr Wang Minghui, Mr Wang Zhaoqing and Mr Fong For are unsuitable to occupy a position as director or within senior management of the Company or any of its subsidiaries.
The Listing Division conducted an investigation into Mr Wang Minghui’s, Mr Wang Zhaoqing’s and Mr Fong For’s discharge of directors’ duties and obligations under the Listing Rules. Mr Wang Minghui, Mr Wang Zhaoqing and Mr Fong For did not respond to the Division’s investigation and reminder letters. They failed to cooperate in the investigation.
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.
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