Zhongyi International (02341) issued an announcement. The Listing Review Committee will hold a listing review committee meeting on February 7, 2024...
Zhitong Finance App News, Zhongyi International (02341) issued an announcement. The Listing Review Committee will hold a Listing Review Committee review hearing on February 7, 2024. On March 11, 2024, the Listing Review Committee informed the Company of its decision to uphold the delisting decision made by the Listing Committee (Listing Review Committee's decision). On March 12, 2024, the Stock Exchange issued a letter to the Company informing the Company of the final listing date for the relevant shares.
The company was deeply disappointed with the Listing Review Committee's decision and decided to submit a license application to the Hong Kong High Court to apply for judicial review (judicial review procedure) of the Listing Review Committee's decision. On March 18, 2024, the company sent a letter to the Stock Exchange requesting it to suspend the execution of the delisting decision in any way pending judicial review proceedings to allow the company sufficient time to carefully consider submitting relevant judicial review procedures and for the courts to consider such procedures. The Exchange responded on March 19, 2024, stating that if the company applies for permission in a timely manner (i.e. on or before April 3, 2024), it is prepared to voluntarily suspend execution of the delisting decision so that the company can seek potentially viable defenses against judicial review. The Stock Exchange also stated that if it decides to continue implementing the delisting decision, it will provide the company with no less than seven days' notice before issuing the announcement to inform the company of the final listing date of the relevant shares.
The company has instructed its legal advisors to submit a license application to the court as soon as possible so that the Stock Exchange knows the reasons for the license application.