SFC Prosecutes {X} and Best Fortune Capital Limited for Contravening the Securities (Disclosure of Interests) Ordinance

13 May 2002

The Securities and Futures Commission (SFC) announces today that it has successfully prosecuted {X}, a former executive director of Prosper eVision Limited (Prosper eVision), and his company, Best Fortune Capital Ltd, a corporate substantial shareholder of Prosper eVision, under the Securities (Disclosure of Interests) Ordinance (SDIO).

{X} today pleaded guilty to 4 representative summonses regarding his failure to make timely disclosure to the Hong Kong Exchanges and Clearing Limited (HKEx) of some 70 trades in Prosper eVision shares executed between July and December 2000. These trades resulted in a disposal of a net total of 29.552 million shares.

Best Fortune Capital Ltd also pleaded guilty to 2 summonses regarding its failure to make timely disclosure to the HKEx of the acquisitions of a net total of 13.122 million Prosper eVision shares between 3 November and 7 November 2000.

Mr Symon Wong, a Magistrate at Western Magistracy, fined {X} and Best Fortune Capital Ltd $4,800 and $2,400 respectively and ordered them to pay costs totalling $18,636 to the SFC.

Note: The names of certain individuals in some news releases have been masked because they satisfy the criteria set out under the Rehabilitation of Offenders Ordinance.

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