Date

Company / Name

Breach Conduct

Disciplinary Actions


29 September
2017

  • China Environmental Energy Investment Limited (the Company)
  • Ms Chen Tong, executive director, Chairman and Chief Executive Officer of the Company
  • Mr Xiang Liang, executive director of the Company

  • MLR14.34, MLR14.38A, MLR14.40 and MLR14.41
  • Director’s Undertaking

  • Company’s failure to comply with the announcement, circular and prior shareholders’ approval requirements in relation to certain share transactions.
  • Directors’ failure to use their best endeavours to procure the Company’s compliance with the Exchange Listing Rules.

REGULATORY MESSAGE:

The Company's failure to comply with the announcement, circular and prior shareholders' approval requirements of the Exchange Listing Rules has deprived the investors of their right to the timely receipt of information in relation to the Company's major transactions, and for shareholders, their right to vote on those transactions before they were entered into by the Company. The transactions in this case were not part of the Company's ordinary and usual course of business. Such failure has a negative impact on market integrity and investors' confidence in our securities market.

It is important that due consideration is given to the Company's compliance with the Exchange Listing Rules before a transaction is entered into.

To ensure they can fulfil their duties, directors are expected to participate in continuous professional training to develop and refresh their knowledge and skills.

The Exchange takes non-compliance with the Exchange Listing Rules seriously and will take action against issuers and directors who breach their obligations and duties.


SANCTIONS:


Public Criticism of

  • China Environmental Energy Investment Limited (the Company)
  • Ms Chen Tong (Ms Chen)
  • Mr Xiang Liang (Mr Xiang)

DIRECTIONS:

  • Directors’ training as described in the press release.

NEWS RELEASE:

http://www.hkex.com.hk/eng/newsconsul/hkexnews/2017/170929news.htm