Ocean Group (01991) issued an announcement that the company failed to comply with the listing rules 13.49 (1) and 13.49...
Zhitong Finance App News, Ocean Group (01991) issued an announcement that the company failed to release the 2023 annual results on or before March 31, 2024 in accordance with the Listing Rules 13.49 (1) and 13.49 (2). The Board of Directors hereby announces that the announcement of the 2023 annual results will be delayed due to the fact that some information and documents (including audit confirmation letters, valuation reports and other financial information) of the newly acquired subsidiary have not been implemented. As a result, the company needed additional time to prepare the 2023 annual results. The company is working closely with the auditor to provide the auditor with all necessary information and documents to complete the audit process as soon as possible. It is anticipated that the 2023 Annual Results will be implemented by the auditors as soon as practicable, and released by the end of April 2024 after the 2023 Annual Results are agreed upon and the review process is completed.
According to section 13.50 of the listing rules, if the issuer fails to publish regular financial information in accordance with the listing rules, the Hong Kong Stock Exchange Limited will usually request the suspension of trading of the issuer's securities, and this suspension will usually continue until the issuer issues an announcement containing the necessary financial information. Therefore, it is currently anticipated that trading of the company's shares will be suspended from 9:00 a.m. on April 2, 2024, pending the announcement of the 2023 annual results.