CH INV FIN GP(01226): The stock price is experiencing unusual fluctuations. The company is currently in contact with MCHKI to discuss several potential business activities.
China Investment and Financing (01226) issues announcement, the Board of Directors of the company notes that its stock price on the date of this announcement...
CH INV FIN GP (01226) announced that the board of directors noted the unusual price movement of its shares on the date of this announcement.
After making reasonable inquiries into the relevant circumstances regarding the company, the board of directors confirmed, apart from the disclosures below, that they were not aware of any reason that could have caused the fluctuation in the share price or trading volume, nor were they aware of any insider information that must be disclosed under Part XIVA of the Securities and Futures Ordinance.
The company is currently in discussions with Micro Connect (H.K.) Investment Management Limited (MCHKI, a licensed corporation engaged in regulated activities defined under types 4 (advising on securities) and 9 (asset management) of the Securities and Futures Ordinance), exploring several potential corporate activities, including but not limited to:
- Appointing new directors to the company (including Mr. Lee Siu-ka, the founder of Drip irrigation Group and former Chief Executive of Hong Kong Exchanges and Clearing Limited);
- Appointing MCHKI as the new investment manager for the company; and
- Proposing to issue no less than HK$1 billion in new shares.
As of the date of this announcement, the company has hired legal and financial advisors to handle the potential corporate activities.
The board of directors hereby emphasizes that no legally binding agreements have been reached on these potential corporate activities. Therefore, these potential corporate activities may not necessarily proceed.
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