MAYER HOLDINGS LIMITED
MMT sanctions Mayer (1116) and its former senior management for late disclosure of inside information
| MMT Report
SFC, 21-Dec-2023
Once again the MMT has, wrongly in our view, fined a listed company for the failures of its directors, thereby punishing the shareholders from whom information was withheld. The MMT writes that the company's "culpability was its failure to have in place policies and guidelines" - but that is, of course, a failure of the directors to put those in place.
SFC, 21-Dec-2023
Once again the MMT has, wrongly in our view, fined a listed company for the failures of its directors, thereby punishing the shareholders from whom information was withheld. The MMT writes that the company's "culpability was its failure to have in place policies and guidelines" - but that is, of course, a failure of the directors to put those in place.
MMT finds Mayer (1116) and its former senior management liable for late disclosure of inside information
| MMT report
SFC, 9-Aug-2023
This was on the second attempt, after an earlier tribunal in 2017 (with a different Chairman and the same 2 lay-members) was found by the Court of Appeal to have erred in law. The previous Chairman, Kenneth Kwok Hing Wai, became too ill to proceed with the remitted hearing. The events date back to 2012.
SFC, 9-Aug-2023
This was on the second attempt, after an earlier tribunal in 2017 (with a different Chairman and the same 2 lay-members) was found by the Court of Appeal to have erred in law. The previous Chairman, Kenneth Kwok Hing Wai, became too ill to proceed with the remitted hearing. The events date back to 2012.
Mayer (1116) ex-directors v SFC & MMT
HK Court of Appeal, 5-Jun-2020
The appeal against the Market Misconduct Tribunal's findings is allowed on an error of law, and the case is remitted back to the MMT. The tribunal had considered the case based on whether the withheld information would have affected the pre-suspension price, rather than whether it would have affected the price after taking into account other post-suspension events.
HK Court of Appeal, 5-Jun-2020
The appeal against the Market Misconduct Tribunal's findings is allowed on an error of law, and the case is remitted back to the MMT. The tribunal had considered the case based on whether the withheld information would have affected the pre-suspension price, rather than whether it would have affected the price after taking into account other post-suspension events.
Censure of Xue Wenge, ex-ED of Mayer (1116)
SEHK, 27-Nov-2015
For failing to cooperate with an investigation and becoming unco
SEHK, 27-Nov-2015
For failing to cooperate with an investigation and becoming unco
Capital Wealth v Mayer Holdings Ltd (1116)
HK Court of First Instance, 12-Oct-2012
"It seems to me unusual (although not impossible) that the plaintiffs, or at least Capital Wealth Finance, would have agreed to provide the substantial loans on an undocumented, interest free and unsecured basis" - Jat Sew Tong.
HK Court of First Instance, 12-Oct-2012
"It seems to me unusual (although not impossible) that the plaintiffs, or at least Capital Wealth Finance, would have agreed to provide the substantial loans on an undocumented, interest free and unsecured basis" - Jat Sew Tong.
Mayer (1116) ED Lai Yueh Hsing convicted in Taiwan, sentenced to jail, appeals
Company announcement, 24-Apr-2012
The announcement comes two months after the conviction - even though it was mentioned in court in a hearing in which Mayer was plaintiff on 5-Apr-2012.
Company announcement, 24-Apr-2012
The announcement comes two months after the conviction - even though it was mentioned in court in a hearing in which Mayer was plaintiff on 5-Apr-2012.
Simsen (0993) sells Mayer $300m promissory note to Lee Yuk Lun for $10m
Company announcement, 13-Feb-2012
The promissory note was part of the security for a loan amount of $76m, of which $50m was syndicated to China Properties Inv (0736). Lee Yuk Lun is Chairman and CEO of Rising Development (1004).
Company announcement, 13-Feb-2012
The promissory note was part of the security for a loan amount of $76m, of which $50m was syndicated to China Properties Inv (0736). Lee Yuk Lun is Chairman and CEO of Rising Development (1004).
China Properties Inv (0736) intends to consent to sale of Mayer (1116) promissory notes by Simsen (0993) in Make Success loan
Company announcement, 2-Feb-2012
Company announcement, 2-Feb-2012
Mayer (1116) sues Zhang Xinyu's Make Success Ltd alleging misrepresentation
Company announcement, 16-Jan-2012
Company announcement, 16-Jan-2012
China Properties Inv (0736) lends HK$50m to Make Success Ltd via Simsen (0993)
Company announcement, 28-Jul-2011
CPI gets 18% p.a. - but we know from previous announcements that Power Alliance gets 23% and Simsen Capital Finance gets 24% p.a. This announcement doesn't mention what the security is: the Simsen announcement of 7-Jun-2011 will tell you: promissory notes and convertibles issued by Mayer (1116) in in acquisition.
Company announcement, 28-Jul-2011
CPI gets 18% p.a. - but we know from previous announcements that Power Alliance gets 23% and Simsen Capital Finance gets 24% p.a. This announcement doesn't mention what the security is: the Simsen announcement of 7-Jun-2011 will tell you: promissory notes and convertibles issued by Mayer (1116) in in acquisition.
Simsen (0993) lends HK$76m to Zhang Xinyu's Make Success Ltd
Company announcement, 7-Jun-2011
At 24% p.a., secured by HK$300m of promissory notes and $90m of convertible notes which were issued by Mayer Holdings Ltd (1116) in an acquisition. $28m of this loan is passed to Power Alliance Ltd at 23% p.a.,
Company announcement, 7-Jun-2011
At 24% p.a., secured by HK$300m of promissory notes and $90m of convertible notes which were issued by Mayer Holdings Ltd (1116) in an acquisition. $28m of this loan is passed to Power Alliance Ltd at 23% p.a.,
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