05/16/2019 | Press release | Distributed by Public on 05/16/2019 02:55
THE STOCK EXCHANGE OF HONG KONG LIMITED(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
In relation to the matter of
China Huishan Dairy Holdings Company Limited (Provisional Liquidators Appointed)
(Incorporated in Cayman Islands with limited liability)
(Stock code: 6863)
Proceeding to third stage of delisting procedures
The Stock Exchange of Hong Kong Limited (the 'Exchange') places China Huishan Dairy Holdings Company Limited (the 'Company' and, together with its subsidiaries, the 'Group') into the third delisting stage today. If no viable resumption proposal is received by the end of the third delisting stage (ie 15 November 2019), the Company's listing will be cancelled.
Trading in the Company's shares has been suspended since 24 March 2017 after the significant decrease in the Company's share price on that day and pending the Company's directors to ascertain an updated financial position of the Group. Subsequently, the Company failed to publish its annual results for the year ended 31 March 2017. On 27 March 2018, the Exchange placed the Company into the first delisting stage under Practice Note 17 to the Listing Rules as it was of the view that the Company did not comply with the requirement to have sufficient operations or assets under Rule 13.24.
The Exchange placed the Company into the second delisting stage on 27 September 2018. At the end of the second delisting stage on 26 March 2019, the Company did not provide any resumption proposal. Therefore, the Exchange has decided to place the Company into the third delisting stage under Practice Note 17 to the Listing Rules.
The Company will have final six months to provide a viable resumption proposal to demonstrate sufficient operations or assets as required under Rule 13.24.
If no viable resumption proposal is received by the end of the third delisting stage (ie 15 November 2019), the Company's listing will be cancelled. The Exchange will make a further announcement if the delisting takes place.