CIFG (0412): breach of Listing Rules on Discloseable Transactions

Following our article on 30-Sep-2016, CIFG admits that it swapped its 56.8m HECC shares for shares in JG and this was a Discloseable Transaction. It also claims that on 1-Apr-2016, the day after CIFG's year-end, it agreed to transfer its JG shares to New Peak Ltd (BVI), the owner of which is not disclosed, and in consideration received 48m shares in HECC, the transferor of which is not disclosed, thereby avoiding the JG implosion. This transaction was not completed until 30-Jun-2016. It was not disclosed as a post-balance sheet event in CIFG's accounts.

Organisations

HEC Capital Limited
Joint Global Limited (MH)
New Peak Limited (VG)
SHANDONG HI-SPEED HOLDINGS GROUP LIMITED 山高控股集團有限公司

Recommend Webb-site to a friend

In this article

Organisations