Carson Yeung and others Censored by HKSE

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Carson Yeung and others Censored by HKSE

Post  hootie63 on Wed Sep 19, 2012 9:50 pm

THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
(the “Exchange”)
19 September 2012
The Listing Committee of The Stock Exchange of Hong Kong Limited (the “Listing
Committee”) censures the following parties for breaching the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Exchange
Listing Rules”):
(1) Birmingham International Holdings Limited (the “Company”) (Stock Code:
2309);
(2) Mr Yeung Ka Sing Carson, an executive director and the Chairman of the
Company (“Mr Yeung”);
(3) Mr Hui Ho Luek Vico, a former executive director of the Company (“Mr Hui”),
resigned on 1 July 2012;
(4) Mr Ip Wing Lun, a former executive director of the Company (“Mr Ip”),
resigned on 31 May 2011;
(5) Ms Wong Po Ling Pauline, an executive director of the Company (“Ms Wong”);
and
(6) Mr Chang Kin Man, a former independent non-executive director of the
Company (“Mr Chang”), resigned on 31 May 2011.
The Listing Committee further criticises the following parties for breaching the
Exchange Listing Rules:
(1) Mr Steven McManaman, a former executive director of the Company
(“Mr McManaman”), resigned on 2 June 2012;
(2) Mr Fan Zhi Yi, a former executive director of the Company (“Mr Fan”), resigned
on 9 September 2009;
(3) Mr Lee Yiu Tung, an executive director of the Company (“Mr Lee”);
(4) Mr Christian Lali Karembeu, a former non-executive director of the Company
(“Mr Karembeu”), resigned on 17 December 2010;

On 13 March 2012, the Listing Committee conducted a hearing into the conduct of the
Company and of Mr Yeung, Mr Hui, Mr Ip, Ms Wong, Mr Chang, Mr McManaman, Mr Fan,
Mr Lee, Mr Karembeu, Mr Chan, Mr Yau and Mr Zhou (together “Relevant Directors”) in
relation to their obligations under the Exchange Listing Rules and the Director’s Declaration
and Undertaking given by each of the Relevant Directors to the Exchange in the form set out
in Appendix 5 Form B to the Exchange Listing Rules (the “Director’s Undertaking”).
On 7 August 2012, the Listing Committee conducted a disciplinary (review) hearing on the
application by Mr Yau and Mr Chan for a review of the decisions of and the sanctions
imposed on them by the Listing Committee at first instance, and by Mr McManaman for a
review of the sanction imposed on him by the Listing Committee at first instance.

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Re: Carson Yeung and others Censored by HKSE

Post  hootie63 on Wed Sep 19, 2012 9:56 pm

i dont know what this actually will do to force them out but it doesn't make good reading so hopefully this is a step in the right direction in getting them to sell
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Re: Carson Yeung and others Censored by HKSE

Post  bluenosekev on Wed Sep 19, 2012 10:06 pm

hootie63 wrote:i dont know what this actually will do to force them out but it doesn't make good reading so hopefully this is a step in the right direction in getting them to sell

Hope your right hoots.

Steve McManaman resigned I noticed!. What did he ever do ? What was his Job ?

Not that it matters..

CY Out.
PP Out.
LC Out.


kro
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Re: Carson Yeung and others Censored by HKSE

Post  hootie63 on Wed Sep 19, 2012 10:07 pm

bluenosekev wrote:
hootie63 wrote:i dont know what this actually will do to force them out but it doesn't make good reading so hopefully this is a step in the right direction in getting them to sell

Hope your right hoots.

Steve McManaman resigned I noticed!. What did he ever do ? What was his Job ?

Not that it matters..

CY Out.
PP Out.
LC Out.


kro

Seems like more than we thought but not in a good way seems like they are all corrupt
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Re: Carson Yeung and others Censored by HKSE

Post  SimonBCFC on Wed Sep 19, 2012 10:11 pm

WHAT DOES THIS MEAN

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Re: Carson Yeung and others Censored by HKSE

Post  bluenosekev on Wed Sep 19, 2012 10:13 pm

hootie63 wrote:
bluenosekev wrote:
hootie63 wrote:i dont know what this actually will do to force them out but it doesn't make good reading so hopefully this is a step in the right direction in getting them to sell

Hope your right hoots.

Steve McManaman resigned I noticed!. What did he ever do ? What was his Job ?

Not that it matters..

CY Out.
PP Out.
LC Out.


kro

Seems like more than we thought but not in a good way seems like they are all corrupt

Corrupt !!

Lowds favourite word. Lowds got a final warning on the Official Forum not to long ago for calling Carson Yeung a 'Corrupt Hairdresser' lol!

laughing


kro
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Re: Carson Yeung and others Censored by HKSE

Post  JayKaye on Thu Sep 20, 2012 5:04 am

If any of the current board are bona fide businessmen with other directorships elsewhere on the stock market I would have thought their first objective will be to distance themselves from Yeung so as to not effect their other businesses.

If they do have other businesses they will be appealing this to keep their name clean - it will not look good if their other business have this statement attached to it.

Night push it on a bit

KRO
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Re: Carson Yeung and others Censored by HKSE

Post  JayKaye on Thu Sep 20, 2012 6:33 am

After looking all over the net to find out what it was all about i found and read a six page article about what was going on
came back to the forum to post it and its on hootie's original post
what a muppet

This appears to be an upholding of an earlier decision made by the HK stock exchange
Basically the directors that currently have other businesses have appealed the HK findings sometime in march
the HKSE have upheld their earlier findings and therefore sanctioned the relevant directors - this could not be released until after the appeal

they are basically saying that Yeung is accused of insider trading ( buying shares when you have inside information) and the rest of them have been charged for not letting the HKSE know what he was doing.

they have basically had their wrists slapped for not telling and all have to go on a training program to learn about HKSE rules and send the completed certificate to HKSE.

Because of management failing to abide by the HKSE codes they have to
"appoint an independent Compliance Adviser (as defined in Chapter
3A of the Exchange Listing Rules namely, an entity licensed or registered under the
Securities and Futures Ordinance for Type 6 regulated activity and permitted under its
licence or certificate of registration to undertake work as a sponsor) satisfactory to the
Listing Division on an ongoing basis for consultation on Exchange Listing Rule
compliance for two years within two weeks from publication of the News Release"
STEP FORWARD MR PANNU ( I think)

thats my take
they have known of this pending since March - they appealed - they Failed - now this.

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