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DeTai New Energy Group (00559.HK) Suspended This Morning as Listing Review Committee Upholds Decision to Suspend Share Trading
DeTai New Energy Group (00559.HK) announced that trading in its shares was halted with effect from 9:00 am today (13th). The Listing Review Committee conducted a hearing on 10 Marc...
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DeTai New Energy Group (00559.HK) Suspended This Morning as Listing Review Committee Upholds Decision to Suspend Share Trading
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DeTai New Energy Group (00559.HK)  0.000 (0.000%)   announced that trading in its shares was halted with effect from 9:00 am today (13th). The Listing Review Committee conducted a hearing on 10 March in relation to the companys application for a review. On 10 April, the company received a letter from the Listing Review Committee notifying that, after careful consideration of all facts and evidence, as well as all submissions presented by the company and the Listing Division, the Listing Review Committee decided to uphold the Listing Committees decision to suspend trading in the companys shares pursuant to Rule 6.01(3) of the Listing Rules. The reason was that the company failed to maintain a sufficient level of operations and assets of sufficient value to support its operations as required under Rule 13.24, thereby failing to warrant the continued listing of its shares.

Accordingly, the Listing Review Committee decided to uphold the Listing Committees decision to suspend trading in the companys shares under Rule 6.01(3). The company will publish a further announcement in due course in accordance with the requirements of the Listing Rules. (ec/w)(HK stocks quote is delayed for at least 15 mins.)

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