Executive decisions and statements

The following is a list of decisions and statements made by the Takeovers Executive.

Date	Decision/Statement	Relevant rules under the Codes	News release
15 Nov 2024	Cold shoulder order and public censure on Zuo Ping for failure to make a mandatory offer under the Takeovers Code in respect of CBK Holdings Limited	Rule 26.1	15 Nov 2024
28 Mar 2023	Public criticism of Cheung Chi Shing for his failure to obtain regulatory approval before triggering a mandatory general offer obligation for Styland Holdings Limited	Note 4 to Rule 26.2	28 Mar 2023
28 Oct 2022	Public criticism of Gold Dragon Worldwide Asset Management Limited for breaching the dealing disclosure requirements during the offer period for Shanghai Dongzheng Automotive Finance Co., Limited	Rule 22	28 Oct 2022
7 Apr 2022	Public criticism of Gao Yunhong and Feng Xuelian for breaching the no frustating action requirements during the offer for Steering Holdings Limited	Rule 4	7 Apr 2022
17 Mar 2022	Public censure of Wonderful Sky Financial Group Holdings Limited and Liu Tianni and public criticism of Liu Kiki Ching Tung for breaching the Code on Share Buy-backs during a share buy-back transaction for Wonderful Sky Financial Group Holdings Limited	Rules 1 and 2 of the Share Buy-backs Code	17 Mar 2022
25 Jan 2022	Cold shoulder order and public censure on Chu Hing Tsung for breaching the mandatory offer obligation in respect of Zhuguang Holdings Group Company Limited	Rule 26.1	25 Jan 2022
19 Jul 2021	Public censure of BIT Mining Limited (formerly known as 500.com Limited) for breaching the special deal requirement during the offer for Loto Interactive Limited	Rule 25	19 Jul 2021
2 Nov 2020	Cold shoulder order and public censure of Ngai Lai Ha for breaching the mandatory offer obligation in respect of International Housewares Retail Company Limited	Rule 26.1	2 Nov 2020
15 Oct 2020	Cold shoulder order and public censure of So Yuk Kwan for breaching the mandatory offer obligation in respect of AV Concept Holdings Limited	Rule 26.1	15 Oct 2020
18 Jun 2020	Public criticism of CICC Financial Trading Limited and China International Capital Corporation Limited for breaching the dealing disclosure requirements during the offers for Dalian Port (PDA) Company Limited and Maanshan Iron & Steel Company Limited	Rule 22	18 Jun 2020
11 Jun 2020	Public censure of Fu Kwan for breaching the dealing restrictions under Rule 31.3 following the offer for Macrolink Capital Holdings Limited	Rule 31.3	11 Jun 2020
30 Dec 2019	Public censures of CLSA Limited, CITIC Securities Brokerage (HK) Limited, Beijing Enterprises Holdings Limited and their representatives for breaching the Code on Share Buy-backs	Rules 1 and 2 of the Share Buy-backs Code	30 Dec 2019
11 Jul 2019	Public criticism of CM Asset Management (Hong Kong) Company Limited for breaching dealing disclosure requirements during the offer period for Mengke Holdings Limited (now known as Champion Alliance International Holdings Limited)	Rule 22	11 Jul 2019
10 Apr 2019	Public criticism of Kwok Tse Wah for breaching the dealing restriction and dealing disclosure obligations during the offer for Hopewell Holdings Limited	Rule 21.2 and 22	10 Apr 2019
30 Jul 2018	Cold shoulder order and public censure of Liang Guosheng for breaching the mandatory offer obligation in respect of Silver Base Group Holdings Limited	Rule 26.1	30 Jul 2018
7 Jun 2018	Cold shoulder order and public censure of Chan Shing for a breaching the mandatory offer obligation in respect of Burwill Holdings Limited	Rule 26.1	7 Jun 2018
5 Mar 2018	Public criticism of Nomura International (Hong Kong) Limited for breaching the Takeovers Code during the possible offer for West China Cement Limited	Rules 8 and 10	5 Mar 2018
20 Dec 2017	Public censure of Zhang Qiang for breaching the dealing restrictions following the offer for Feishang Non-metal Materials Technology Limited	Rule 31.3	20 Dec 2017
7 Sep 2017	Public censure in relation to breaches of dealing provisions during the offer period for TCC International Holdings Limited	Rules 21.2, 21.3 and 22	7 Sep 2017
30 Aug 2017	Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of Union Asia Enterprise Holdings Limited	Rule 26.1	30 Aug 2017
3 Aug 2017	Public censure in relation to breaches of dealing disclosure requirements under Rule 22 during the offer period for Glorious Property Holdings Limited	Rule 22	3 Aug 2017
14 Dec 2016	Public criticism in relation to breaches of dealing restrictions under Rule 31.3 following the offer for Tanrich Financial Holdings Limited (now known as Southwest Securities International Securities Limited)	Rule 31.3	14 Dec 2016
22 Nov 2016	Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of Changgang Dunxin Enterprise Company Limited	Rule 26.1	22 Nov 2016
29 Jun 2016	Public censure in relation to breaches of the Takeovers Code during the privatisation for Power Assets Holdings Limited and the partial offer for China Resources Beer (Holdings) Company Limited	Rule 22	29 Jun 2016
26 May 2016	Public criticism in relation to breaches of dealing restrictions under Rule 31.3 following the offer for Chun Wo Development Holdings Limited (now known as China City Construction Group Holdings Limited)	Rule 31.3	26 May 2016
2 Feb 2016	Public censure in relation to breaches of the Takeovers Code during the offer for Wing Hang Bank Limited	Rules 22, 21.5, 10 and Note 4 to Rule 8.1	2 Feb 2016
4 Dec 2014	Public criticism in relation to breaches of dealing restrictions under Rule 31.3 following the offer for the Sound Global Limited	Rule 31.3	4 Dec 2014
27 Nov 2013	Cold shoulder order and public censure for the failure to issue an offeree circular to shareholders during the offer for Daqing Dairy Holdings Limited	Rule 8.4	27 Nov 2013
22 May 2012	Cold shoulder order and public censure for a breach of the mandatory offer obligation in the Takeovers Code in respect of Longlife Group Holdings Limited	Rule 26.1	22 May 2012
13 Mar 2012	Public criticism during the general offer for Tian An China Investments Company Limited in relation to breaches of the dealing disclosure requirements under Rule 22	Rule 22	13 Mar 2012
7 Nov 2011	Public criticism in relation to breaches of dealing disclosure requirements under Rule 22 during the general offer for Little Sheep Group Limited	Rule 22	7 Nov 2011
14 Dec 2010	Public censure in relation to breaches of dealing disclosure requirements under Rule 22 during the privatization of Denway Motors Limited	Rule 22	14 Dec 2010
20 Jul 2010	Public criticism in relation to breaches of announcement requirements under Rule 3.6 during the offer for Asian Capital Resources (Holdings) Limited	Rule 3.6	20 Jul 2010
19 May 2009	Cold shoulder order and public censure for intentional breaches of the Takeovers Code in the matter of Nam Tai Electronic & Electrical Products Limited	Rule 31.1	19 May 2009
29 Oct 2008	Statement on the upholding of general offer trigger point and creeper under Takeovers Code	Rule 26.1
13 Mar 2008	Public criticism in relation to breaches of dealing restrictions under Rule 31.3 following the offer for Taifook Securities Group Limited	Rule 31.3	13 Mar 2008
4 Mar 2008	Public criticism in relation to breaches of announcement requirements under Rule 3.6 during the offer for iMerchants Limited	Rule 3.6	4 Mar 2008
17 May 2007	Ruling on whether certain parties were acting in concert in respect of PCCW Limited	Note 7 to Rule 26.1	17 May 2007
15 Nov 2005	Public criticism in relation to breaches of dealing restrictions under Rule 21.3 during the offer for Group Dragon Investments Limited	Rule 21.3	15 Nov 2005
18 Oct 2004	Cold shoulder order and public censure for the failure to issue an offeree circular to shareholders during the offer for GP Nano Technology Group Limited	Rule 8.4	18 Oct 2004
24 Apr 2003	Cold shoulder order and public censure for transactions undertaken during an offer period and the failure to issue a response document during the offer for International Capital Network Holdings Limited	Rules 4 and 8.4	24 Apr 2003
29 Jan 2003	Cold shoulder order and public censure for the failure to make a mandatory general offer for FT Holdings International Limited	Rule 26.1	29 Jan 2003
10 Jun 2002	Cold shoulder order and public censure for the failure to make a mandatory general offer for Truly International Holdings Limited	Rule 26.1	10 Jun 2002
30 Jan 2001	Public reprimand in relation to breaches of the Takeovers Code during the offer for China Sci-Tech Holdings Limited		30 Jan 2001
7 Apr 2000	Statement on whether share repurchases constitute disqualifying transactions under paragraph 3 of Schedule VI of the Takeovers Code	Rule 32, paragraph 3 of Schedule VI	7 Apr 2000

Note:

In some of these documents, the names of certain individuals have been masked as 10 years have elapsed since the public criticism or public reprimand of them was made.

Last update: 15 Nov 2024