Organization

The borrower is the co-chairman and ED of an unnamed GEM-listed company. We'll tell you it's P.B. Group (8331). Mr Chan and his co-chairman Pui Wai Lun each own 50% of P.B. Asia Holdings Ltd, which is currently underwriting a HK$27.8m rights issue by PBG. The placing agent for any unsubscribed rights is CIS Securities Asset Management Ltd (CISSAM). Mark Mak Kwong Yiu, ex-Chairman & CEO of Lerado and ex-CEO of Convoy Global Holdings Ltd, has or had an indirect stake in CISSAM. He was jailed a week ago for conspiracy to defraud CGH in its bond placements which benefited CISSAM.

If HKEX proceeds with an ill-conceived Listing Rule change, companies with disclaimed audit reports for 2019 will be suspended and likely delisted, victimising minority shareholders. We now list those with disclaimed audits up to 30-Jun-2018 which would be affected if the rule applied today. Make your submission to stop this nonsense!

For purchasing shares of FS Nonmetal (8331) above his offer price within 6 months after his offer closed. We note that despite owning 49.93%, he does not sit on the board, so he does not have to disclose his dealings unless he moves through a 1% threshold.