EganaGoldpfeil (HKG:0048) announced that on 4 December 2009, the Stock Exchange informed Egana that it has placed Egana in the first stage of the delisting procedures and that Egana was required to submit a viable resumption proposal and to address issues by 3 June 2010.
The address issues include: 1) demonstrate that Egana has a sufficient level of operations or has assets of sufficient value; 2) demonstrate that the market is properly informed of all material information to appraise the position of the Egana Group, including the matters under investigation by the Commercial Crime Bureau, and the implications to the Egana Group's operations, assets and financial position; 3) demonstrate that circumstances no longer exist to suggest that there may be significant deficiencies in the internal control system and concern about management integrity which will pose a risk to investors and may damage market confidence; 4) publish all outstanding financial results and address any concerns that may be raised by the auditors through the qualification of their audit reports; and 5) withdrawal or dismissal of the winding-up petition, and discharge of the provisional liquidators.
