Wong, Kwong Yu 黃光裕
SFC obtains court orders for $420m compensation to GOME (0493) from founder and wife
SFC, 7-May-2014
SFC, 7-May-2014
SFC obtains HK$420m compensation for GOME from former chairman and wife
SFC, 11-Mar-2014
Comment: in the circumstances, this is a good outcome and independent shareholders should vote to ratify the share repurchase so that GOME gets the money. If they don't, then the settlement is off and GOME could still sue the couple, but even if that is successful, the awarded damages are unlikely to be any higher. Mr Wong is presumably still in a mainland prison, having been sentenced to 14 years in 2010, but in the mainland, things are not always what they seem.
SFC, 11-Mar-2014
Comment: in the circumstances, this is a good outcome and independent shareholders should vote to ratify the share repurchase so that GOME gets the money. If they don't, then the settlement is off and GOME could still sue the couple, but even if that is successful, the awarded damages are unlikely to be any higher. Mr Wong is presumably still in a mainland prison, having been sentenced to 14 years in 2010, but in the mainland, things are not always what they seem.
GOME chairman admits: we lied
Electrical retailer GOME, having reached a truce with jailed founder and controlling shareholder Wong Kwong Yu, now puts itself back in the spotlight by Chairman Chen Xiao's confession that it lied to investors in Dec-2008 about the state of affairs of the group. That's a criminal offence. We call on the SFC to investigate. UPDATE: GOME has published a response, which we include with comments. (22-Nov-2010)
Electrical retailer GOME, having reached a truce with jailed founder and controlling shareholder Wong Kwong Yu, now puts itself back in the spotlight by Chairman Chen Xiao's confession that it lied to investors in Dec-2008 about the state of affairs of the group. That's a criminal offence. We call on the SFC to investigate. UPDATE: GOME has published a response, which we include with comments. (22-Nov-2010)
Statement from the "Founding Shareholders" of GOME
(16-Sep-2010)
(16-Sep-2010)
Take the GM out of GOME
Webb-site looks at the governance battle at GOME (0493), which culminates in an SGM on 28-Sep-2010 for which we give our voting recommendations. We also examine the claims in the SFC's civil action against Wong Kwong Yu. (7-Sep-2010)
Webb-site looks at the governance battle at GOME (0493), which culminates in an SGM on 28-Sep-2010 for which we give our voting recommendations. We also examine the claims in the SFC's civil action against Wong Kwong Yu. (7-Sep-2010)
Court grants injunction to freeze assets of ex-GOME chairman and wife
SFC, 7-Aug-2009
Readers can click here for a list of GOME buybacks.
SFC, 7-Aug-2009
Readers can click here for a list of GOME buybacks.
Gome Chairman, CFO under investigation by Beijing PSB for suspected economic crime
Company announcement, 28-Nov-2008
Company announcement, 28-Nov-2008
Gome unable to confirm (or deny) the accuracy of allegations against Chairman
Company announcement, 24-Nov-2008
Comment: one of the allegations is that he has been detained. The announcement should have stated whether he was contactable.
Company announcement, 24-Nov-2008
Comment: one of the allegations is that he has been detained. The announcement should have stated whether he was contactable.
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