Duncan Capital Limited (VG)
Raking muck, Part 4
We take a deeper dive into the transactions of Inno-Tech (8202), and call on the SFC to investigate. We also call on the regulators either to scrap the requirement for "independent" financial advisers in listed company deals, or make it work by randomly assigning them through a jury pool system. The current system of opinion-shopping to IFAs of Last Resort is a waste of investors' money and provides false comfort. (7-Mar-2012)
We take a deeper dive into the transactions of Inno-Tech (8202), and call on the SFC to investigate. We also call on the regulators either to scrap the requirement for "independent" financial advisers in listed company deals, or make it work by randomly assigning them through a jury pool system. The current system of opinion-shopping to IFAs of Last Resort is a waste of investors' money and provides false comfort. (7-Mar-2012)
Inno-Tech (8202) sells 238 shares (19.19%) of Great China Media Holdings Ltd to Duncan Capital Ltd
Company announcement, 3-May-2010
For HK$43m, of which 5% in cash, 5% in 3-month IOU and 90% in 1-year IOU. The buyer's owner is not disclosed, but its director and guarantor is Andy Shek Ka Sun. The zero-interest 1-year IOU was replaced with another 1-year note on 3-May-2011, bearing 3% interest, but then the Exchange pointed out that this was financial assistance requiring shareholders' approval. The new note was scrapped and the money was repaid on 28-Sep-2011 (without interest).
Company announcement, 3-May-2010
For HK$43m, of which 5% in cash, 5% in 3-month IOU and 90% in 1-year IOU. The buyer's owner is not disclosed, but its director and guarantor is Andy Shek Ka Sun. The zero-interest 1-year IOU was replaced with another 1-year note on 3-May-2011, bearing 3% interest, but then the Exchange pointed out that this was financial assistance requiring shareholders' approval. The new note was scrapped and the money was repaid on 28-Sep-2011 (without interest).
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