Home | Business News | Browse by Publication | M | M2 Presswire

THE STOCK EXCHANGE OF HONG KONG LIMITED (A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited).

Article Excerpt
M2 PRESSWIRE-26 June 2009-Hong Kong Exchanges and Clearing Ltd: THE STOCK EXCHANGE OF HONG KONG LIMITED (A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)(C)1994-2009 M2 COMMUNICATIONS

RDATE:25062009

CENSURE OF Core Healthcare Investment Holdings Limited (the "Company") (Stock Code: 8250) for breaching Rule 17.10(3) of the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules") and Mr Wu Kai ("Mr Wu"), an Executive Director of the Company for breaching his obligations under the Declaration and Undertaking with regard to Directors given by him to the Exchange in the form set out in Appendix 6A to the GEM Listing Rules (the "Director's Undertaking")

The Stock Exchange of Hong Kong Limited (the "Exchange") hereby publicly censures:

(1) the Company for its breach of Rule 17.10(3) of the GEM Listing Rules in respect of its selective dissemination of unpublished price-sensitive information regarding a new drug which was referred to in its announcement dated 21 February 2008 during a press conference held in the afternoon of 24 February 2008; and

(2) Mr Wu for his breach of his obligations under the Director's Undertaking for failing to use his best endeavours to procure the Company's compliance with Rule 17.10(3) of the GEM Listing Rules.

Facts

At around 10:51 p.m. on 21 February 2008, the Company issued an announcement (the "First Announcement") disclosing that it had entered into a cooperation agreement (the "Cooperation Agreement") with Xizang Rhodiola Pharmaceutical Company Limited ("Xizang Medicine") by which the Company agreed...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!