Corporates

Executive decisions and statements

The following is a list of decisions and statements made by the Takeovers Executive. 

 

Date Decision/Statement Relevant rules under the Codes News release
 2 Nov 2020 Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of International Housewares Retail Company Limited Rule 26.1  2 Nov 2020
15 Oct 2020 Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of AV Concept Holdings Limited Rule 26.1 15 Oct 2020
18 Jun 2020 Public criticism of  CICC Financial Trading Limited  and  China International Capital Corporation Limited  in relation to breaches of Rule 22 during the offer period for Dalian Port (PDA) Company Limited and Maanshan Iron & Steel Company Limited Rule 22 18 Jun 2020
11 Jun 2020 Public censure of Fu Kwan in relation to breaches of dealing restrictions under Rule 31.3 following the offer for Macrolink Capital Holdings Limited Rule 31.3 11 Jun 2020
30 Dec 2019 Publiccensures of CLSA Limited, CITIC Securities Brokerage (HK) Limited, Beijing Enterprises Holdings Limited and their representativesin relation to breaches of the Code on Share Buy-backs Rules 1 and 2 of the Share Buy-backs Code 30 Dec 2019
11 Jul 2019 Public criticism in relation to breaches of dealing disclosurerequirements during the offer period for Mengke Holdings Limited (now known as Champion Alliance International Holdings Limited) Rule 22 11 Jul 2019
10 Apr 2019 Public criticism in relation to breaches of the dealing restriction and dealing disclosure obligations during the offer periodfor Hopewell Holdings Limited Rule 21.2 and 22 10 Apr 2019
30 Jul 2018 Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of Silver Base GroupHoldings Limited Rule 26.1 30 Jul 2018
7 Jun 2018 Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of Burwill Holdings Limited Rule 26.1 7 Jun 2018
5 Mar 2018 Public criticism in relation to breaches of the Takeovers Code during the possible offer for West China Cement Limited Rules 8 and 10 5 Mar 2018
20 Dec 2017 Public censure in relation to breaches of dealing restrictions under Rule 31.3 following the offer for Feishang Non-metal Materials Technology Limited Rule 31.3 20 Dec 2017
7 Sep 2017 Public censure in relation to breaches of dealing provisions during the offer period for TCC International Holdings Limited Rules 21.2, 21.3 and 22 7 Sep 2017
30 Aug 2017 Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of Union Asia Enterprise Holdings Limited Rule 26.1 30 Aug 2017
3 Aug 2017 Publiccensure in relation to breaches ofdealing disclosure requirementsunder Rule 22 during the offer period for Glorious Property Holdings Limited Rule 22 3 Aug 2017
14 Dec 2016 Public criticism in relation to breaches of dealing restrictions under Rule 31.3 following the offer for Tanrich Financial Holdings Limited (now known as Southwest Securities International Securities Limited) Rule 31.3 14 Dec 2016
22 Nov 2016 Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect ofChanggang Dunxin Enterprise Company Limited Rule 26.1 22 Nov 2016
29 Jun 2016 Public censure in relation to breaches of the Takeovers Code during the privatisation for Power Assets Holdings Limited and the partial offer for China Resources Beer (Holdings) Company Limited Rule 22 29 Jun 2016
26 May 2016 Public criticism in relation to breaches of dealing restrictions under Rule 31.3 following the offer for Chun Wo Development Holdings Limited (now known as China City Construction Group Holdings Limited) Rule 31.3 26 May 2016
2 Feb 2016 Public censure in relation to breaches of the Takeovers Code during the offer for Wing Hang Bank Limited Rules 22, 21.5, 10 and Note 4 to Rule 8.1 2 Feb 2016
4 Dec 2014 Public criticism in relation to breaches of dealing restrictions under Rule 31.3 following the offer for the Sound Global Limited Rule 31.3 4 Dec 2014
27 Nov 2013 Cold shoulder order and public censure for the failure to issue an offeree circular to shareholders during the offer forDaqing Dairy Holdings Limited Rule 8.4 27 Nov 2013
22 May 2012 Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of Longlife Group Holdings Limited Rule 26.1 22 May 2012
13 Mar 2012 Public criticismduring the general offer for Tian An China Investments Company Limited in relation to breaches of the dealing disclosure requirements under Rule 22 Rule 22 13 Mar 2012
7 Nov 2011 Public criticism in relation to breaches of dealing disclosure requirements under Rule 22 during the general offer for Little Sheep Group Limited Rule 22 7 Nov 2011
14 Dec 2010 Public censure in relation to breaches of dealing disclosure requirements under Rule 22 during the privatization of Denway Motors Limited Rule 22 14 Dec 2010
20 Jul 2010 Public criticism in relation to breaches of announcement requirements under Rule 3.6 during the offer for Asian Capital Resources (Holdings) Limited Rule 3.6 20 Jul 2010
19 May 2009 Cold shoulder order and public censure for intentional breaches of the Takeovers Code in the matter of Nam Tai Electronic & Electrical Products Limited Rule 31.1

 

 

 
19 May 2009
29 Oct 2008 Statement on the upholding of general offer trigger point and creeper under Takeovers Code Rule 26.1  
13 Mar 2008 Public criticism in relation to breaches of dealing restrictions under Rule 31.3 following the offer for Taifook Securities Group Limited Rule 31.3 13 Mar 2008
4 Mar 2008 Public criticism in relation to breaches of announcement requirements under Rule 3.6 during the offer for iMerchants Limited Rule 3.6 4 Mar 2008
17 May 2007 Ruling on whether certain parties were acting in concert in respect of PCCW Limited Note 7 to Rule 26.1

 

 

 
17 May 2007
15 Nov 2005 Public criticism in relation to breaches of dealing restrictions under Rule 21.3 during the offer for Group Dragon Investments Limited Rule 21.3 15 Nov 2005
18 Oct 2004 Cold shoulder order and public censure for the failure to issue an offeree circular to shareholders during the offer for GP NanoTechnology Group Limited Rule 8.4 18 Oct 2004
24 Apr 2003 Cold shoulder order and public censure for transactions undertaken during an offer period and the failure to issue a response document during the offer for International Capital Network Holdings Limited Rules 4 and 8.4 24 Apr 2003
29 Jan 2003 Cold shoulder order and public censure for the failure to make a mandatory general offer for FT Holdings International Limited Rule 26.1 29 Jan 2003

 

 

 
10 Jun 2002 Cold shoulder order and public censure for the failure to make a mandatory general offer for Truly International Holdings Limited Rule 26.1 10 Jun 2002
30 Jan 2001 Public reprimand in relation to breaches of the Takeovers Code during the offer for China Sci-Tech Holdings Limited 30 Jan 2001
7 Apr 2000 Statement on whether share repurchases constitute disqualifying transactions under paragraph 3 of Schedule VI of the Takeovers Code Rule 32, paragraph 3 of Schedule VI 7 Apr 2000

 

 

 

 

Note:

In some of these documents, the names of certain individuals have been masked as 10 years have elapsed since the public criticism or public reprimand of them was made.

Last update: 2 Nov 2020

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