Well Link Securities Limited 立橋證券有限公司
ACCP Global Ltd, 100%-owned by Barry Lau Wang Chi, defaults on subscription of shares in CA Cultural (1566)
Company announcement, 8-Dec-2021
Astonishingly, the 86m shares were allotted on 29-Sep-2021 without having been paid for, and 40m of the shares were deposited into the clearing system with a broker, Well Link Securities Ltd, for the subscriber's account. A week later, the stock crashed 77%, and now the subscriber has defaulted. We note that Keith Kwan Kin Man, the CFO of Well Link, was once a licensed representative of Adamas Asset Management (HK) Ltd, which was then 50% owned by Barry Lau.
Company announcement, 8-Dec-2021
Astonishingly, the 86m shares were allotted on 29-Sep-2021 without having been paid for, and 40m of the shares were deposited into the clearing system with a broker, Well Link Securities Ltd, for the subscriber's account. A week later, the stock crashed 77%, and now the subscriber has defaulted. We note that Keith Kwan Kin Man, the CFO of Well Link, was once a licensed representative of Adamas Asset Management (HK) Ltd, which was then 50% owned by Barry Lau.
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