Date

Company / Name

Breach Conduct

Disciplinary Actions


15 November
2017

  • Han Tang International Holdings Limited
  • Mr Goh Nan Kioh (former non-executive director and former Chairman)
  • Mr Goh Nan Yang (former executive director)
  • Mr Yeow See Yuen (former independent non-executive director and former non-executive director)
  • Mr Wang Shu Jie (former independent non-executive director and executive director)
  • Mr Xu Lei (non-executive director)
  • Mr Liu Hongjun (former independent non-executive director)
  • MLR2.13(2)
  • MLR14.34
  • MLR14.36
  • MLR14.38A
  • MLR14.48
  • MLR14.49
  • MLR14A.21
  • MLR14A.45
  • MLR14A.47
  • MLR14A.48
  • MLR14A.49
  • MLR3.08(d)
  • MLR3.08(f)
  • Director’s Undertaking
  • Company’s failure to (a) comply with the disclosure and shareholders’ approval requirements for two connected and disclosable transactions (“Transactions”) as well as a material variation to the terms of an agreement previously announced and approved by shareholders (“Material Variation”); and (b) ensure an announcement was accurate and complete in all material respects (“Announcement”).
  • Mr Goh Nan Kioh’s and Mr Goh Nan Yang’s failure to avoid actual a potential conflict of interest;
  • Mr Goh Nan Kioh’s, Mr Goh Nan Yang’s and Mr Yeow See Yuen’s failure to (a) apply such degree of skill, care and diligence required and expected of them (“Care, Skill and Diligence”) to disclose the Transactions to the Company, contemplate the disclosure and approval of the Material Variation and ensure the Announcement was accurate and complete; and (b) comply with their Director’s Undertaking.
  • Mr Wang Shu Jie’s failure to (a) apply Care, Skill and Diligence to ensure the disclosure and approval of the Transactions and a supplemental agreement; and (b) comply with his Director’s Undertaking.
  • Mr Xu Lei’s and Mr Lin Hongjun’s failure to (a) apply Care, Skill and Diligence to protect the Company’s assets; and (b) comply with the Listing Rules to the best of their abilities.

REGULATORY MESSAGE:

THIS DISCIPLINARY ACTION underlines the importance for directors to act with integrity and avoid any actual or potential conflict of interests by declaring any interests at the earliest opportunity and refraining themselves from voting or being counted as part of the quorum with respect to any conflicted issues. Directors, individually and collectively, have a duty to disclose any conflict of interest issues concerning other directors of the company.


SANCTIONS:


Public Censures of

  • Han Tang International Holdings Limited
  • Mr Goh Nan Kioh
  • Mr Goh Nan Yang
  • Mr Yeow See Yuen
  • Mr Wang Shu Jie

Public Criticism of

  • Mr Xu Lei
  • Mr Liu Hongjun

NEWS RELEASE:

http://www.hkex.com.hk/News/News-Release/2017/1711152news?sc_lang=en