The Exchange announces that the listing of the Company's shares will be cancelled with effect from 9:00 am on 20 February 2025 under Rule 6.01A(1).
Trading in the Company’s shares has been suspended since 3 April 2023. Under Rule 6.01A(1), the Exchange has the right to delist the Company if trading does not resume by 2 October 2024.
The Company failed to fulfill the resumption guidance set by the Exchange and resume trading in its shares by 2 October 2024. On 25 October 2024, the Listing Committee decided to cancel the listing of the Company’s shares on the Exchange under Rule 6.01A(1).
On 5 November 2024, the Company sought a review of the Listing Committee’s decision by the Listing Review Committee. On 23 December 2024, the Listing Review Committee upheld the decision of the Listing Committee to cancel the Company’s listing. On 17 January 2025, the Company applied to the High Court for leave for judicial review of the decision of the Listing Review Committee (the Application). On 5 February 2025, the High Court made an order ordering that the Application be dismissed.
Accordingly, the Exchange will cancel the Company’s listing with effect from 9:00 am on 20 February 2025. 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.
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