Monday June 30 2014

News Source: Global Disclosures

Focus: Takeover and Acquisition

Type: General

Country: Hong Kong




The Takeovers and Mergers Panel of the Securities and Futures Commission has ruled that SouthGobi Resources Limited should be considered a “public company in Hong Kong” under the Codes on Takeovers and Mergers and Share Buy-backs (Codes) and therefore the Hong Kong takeovers rules should apply to SouthGobi.

The ruling was based primarily upon the material changes in the number of Hong Kong shareholders and the extent of trading in the shares in Hong Kong.

Click on the above link for the Panel decision.