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Huaxia Energy Holdings (08009.HK) received a letter from the Stock Exchange saying that its trading would be suspended if it did not have an adequate operating level.

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Huaxia Energy Holdings (08009.HK) announced that it has received a letter dated 10 December this year from the Stock Exchange informing the Company that the Stock Exchange has considered that the Company has failed to maintain a sufficient level of operation and assets in accordance with the GEM listing rules to ensure that its shares can continue to be listed and that trading in the Company's shares will be suspended in accordance with the GEM listing rules.


According to the letter, the company must re-comply with the GEM listing rules, comply with any resumption guidelines that may be set by the Stock Exchange and fully comply with the GEM listing rules until the Stock Exchange is satisfied. Under the GEM listing rules, the SEHK may delist shares if trading is suspended for a continuous period of 12 months.


Under the GEM listing rules, the company has the right to submit the decision to the GEM listing Committee for review. The company may request the GEM listing Committee to review the decision on or before December 21 this year. If the company does not apply for review before that date, trading in the shares will be suspended from 22 December this year. Until then, shares can continue to be traded.


The company means that the letter is still being reviewed, discussed with the company's legal and / or financial advisers, and will actively consider requesting that the decision be submitted to the GEM listing Committee for review.

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