Celebrate (8212) update
Company announcement, 2-Jul-2020
After Citizens (owned by Oshidori, 0622) on 12-May applied for winding-up in HCCW 95/2020, and after Manivest (appointed by Southwest, 0812) on 13-May applied for interim receivers in HCMP 469/2020, Citizens on 18-May applied to intervene in that case, to be heard on 18-Jun, but on 15-Jun Manivest applied to join HCCW 95/2020 and appoint their choice of liquidators, RSM, so on 18-Jun they withdrew HCMP 469/2020. The liquidation hearing is set for 9-Jul. Meanwhile on 19-Jun, Southwest wrote to the judge regarding the withdrawal, making what Celebrate calls "completely unfounded allegations against the Board… and other parties" and enclosing a chart. In response, the Board now adjourns the EGM requisitioned by Manivest (who have a 64.66% shareholding) to replace the Board which was scheduled for 3-Jul.
Celebrate (8212): receivers of controlling shareholding seek interim receivers or transaction limit on Celebrate's assets
Company announcement, 15-May-2020
The summons was filed on 13-May-2020, the day after Citizens Money Lending Corp Ltd (owned by Oshidori, 0622) filed a petition seeking a winding-up. The receivers were appointed by Southwest Securities (0812) which provided a loan for the 2017 takeover by Michael Ng Kwok Wing (via Nieumarkt Investments Ltd), secured on the controlling shareholding.
Receivers of controlling shareholder petition court to appoint receiver over assets of Celebrate (8212)
Company announcement, 14-May-2020
The receivers, Horace Ho Man Kit and Peter Mok Kwan Leong of Manivest Asia Ltd, were appointed by Southwest Securities (0812), which is trying to recover a loan secured against the controlling shareholding in Celebrate. The petition was filed on 5-May-2020.
Southwest Securities (0812) receivers of 64.66% of Celebrate (8212) resigned, replaced
Company announcement, 7-Apr-2020

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