Wednesday 27th April 2016
Dear Reader,
NEW ARTICLE
SEHK
tackles bonus issues, misses the obvious
The Stock Exchange, in a guidance letter tonight, says it will reject
listing of bonus issues of 200% or more, because they tie up too much of the
float between the ex-date and distribution date. They propose stock splits as an
alternative, but they omit the faster and better way to reduce board lot value,
which HKEx itself used in 2008. (27-Apr-2016)
RECENTLY ON WEBB-SITE
HKEx
cuts hit corporate governance of whole market
A circular slipped out by an HKEx subsidiary, HKSCC, will slash the
effective voting window for general meetings, reducing the participation of
institutional investors in important decisions such as acquisitions, connected
transactions and dilutive share issues. We urge HKEx to rethink this deeply
damaging move. (18-Apr-2016)
IN OTHER NEWS
Defendants
acquitted of unlicensed dealing
SFC,
22-Apr-2016
Ex-company
director charged with conspiracy to offer HK$4.8m illegal commissions
ICAC, 21-Apr-2016
SFC bans
Andrew Chow Ho Cheung, ex-HSBC, for life
SFC,
21-Apr-2016
Ng Chi Keung v Secretary for Justice
HK Court
of First Instance, 21-Apr-2016
Law Fei Shing v HKICPA
HK Court of Appeal,
21-Apr-2016
Mr Law fails in an application for extension of time to
appeal against a refusal of leave to apply for judicial review. The Court of
Appeal is not persuaded that any of his grounds for JR have a reasonable
prospect of success. This relates to a pending disciplinary case against him by
the HKICPA. The CoA took 10 months to deliver its judgment.
Senior
Ambulanceman of FSD admits misconduct
ICAC,
20-Apr-2016
For fixing his GPS device to appear to be in the middle
of nowhere, which is no mean feat in HK.
GET (8100) loses corporate records
Company
announcement, 19-Apr-2016
Don't you just hate it when that happens?
And much more besides...
Remember that, apart from our occasional
artisan articles, you can follow Webb-site Reports via RSS,
Twitter,
Facebook or
Google+.
Pass it on!
This free newsletter goes to over 21,000 subscribers. If you enjoy the site, then please
invite a friend to find out
what they are missing and subscribe!
Copyright notice
This e-mail and small extracts of any article on the site may be freely quoted
in any other publication but ONLY if attribution is given to
Webb-site.com.