SFC Prosecutes {X} and Bioleader Limited for Contravening Part XV of the Securities and Futures Ordinance

25 Aug 2005



The SFC has successfully prosecuted {X} and Bioleader Limited under Part XV of the Securities and Futures Ordinance. Bioleader was a substantial shareholder of Dah Hwa International (Holdings) Limited (now renamed as Pearl Oriental Enterprises Limited). {X}, a director of Bioleader, is deemed interested in the Dah Hwa shares held by Bioleader at the material time.

Bioleader today pleaded guilty to two summonses related to its disposal of the shares of Dah Hwa on 25 June 2004. It failed to report to both the Hong Kong Exchanges and Clearing Limited (HKEx) and Dah Hwa its change of interests in the shares of Dah Hwa within three days of its becoming aware of such change. {X} also pleaded guilty to two summonses for his failure to report to HKEx and Dah Hwa the change of his deemed interest within three days of his becoming aware of such change.

Mr T.H. Casewell, a Magistrate at Eastern Magistracy, fined Bioleader and {X} $3,000 each, and ordered {X} to pay investigation costs of $10,699 to the SFC.

Ends



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


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