Securities & Futures Commission of Hong Kong

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

30 Dec 2019

Public censures of CLSA Limited, CITIC Securities Brokerage (HK) Limited, Beijing Enterprises Holdings Limited and their representatives in 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 disclosure requirements 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 period for 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 Group Holdings 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

Public censure in relation to breaches of dealing disclosure requirements under 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 of Changgang 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 for Daqing 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 criticism during 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.

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