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Inno Tech : Announcements and Notices - The Stock Exchange''s Notice of Proceeding to Cancel the Company''s Listing

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07/28/2019 | 09:25am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(incorporated in Bermuda with limited liability)

(Stock Code: 8202)

THE STOCK EXCHANGE'S NOTICE OF PROCEEDING TO CANCEL

THE COMPANY'S LISTING

This is made by the Company pursuant to Rule 9.17 of the GEM Listing Rules and the inside information provisions under Part XIVA of the SFO.

The Company has received a letter dated 26 July 2019 from the Stock Exchange (the ''Letter''), which serves as a notice pursuant to Rule 9.15 of the GEM Listing Rules, that the Stock Exchange has decided to suspend trading in the Shares under Rule 9.04(3) of the GEM Listing Rules and proceed with cancellation of the Company's listing under Rule 9.14 of the GEM Listing Rules (the ''Decision'').

Pursuant to the Letter, in view of the Decision, the Company is required to re-comply with Rule 17.26 of the GEM Listing Rules and it will have a remedial period of 12 months to recomply with Rule 17.26 of the GEM Listing Rules. If the Company fails to do so by the expiry of the 12-month period (i.e., 25 July 2020), the Stock Exchange will proceed with cancellation of the Company's listing.

Under Rule 4.06(1) of the GEM Listing Rules, the Company has the right to have the Decision referred to the GEM Listing Committee for review. The Company may request that the Decision be reviewed by the GEM Listing Committee on or before 6 August 2019. If the Company does not make any review application by 6 August 2019, trading in the Shares will be suspended from 9:00 a.m. on 7 August 2019. Before that, trading in the Shares will continue. The Company is still in the process of reviewing the Letter and is discussing the same with the Company's legal advisers, and would actively consider lodging a request for the Decision be referred to the GEM Listing Committee for review.

The Directors would remind the Shareholders and potential investors that (i) the Company may or may not proceed with the review by the GEM Listing Committee; and (ii) the outcome of such review is uncertain, if undertaken.

  • For identification purposes only

- 1 -

Further announcements will be made by the Company as and when appropriate and in accordance with the requirements of the GEM Listing Rules. Shareholders who have any queries about the implications of the Stock Exchange's notice of proceeding to cancel the Company's listing are advised to obtain appropriate professional advice.

DEFINITIONS

Terms of expressed used in this announcement shall, unless the context otherwise requires, have the meanings ascribed to them below:

''Board''

the board of Directors

''Company''

Inno-Tech Holdings Limited, a company incorporated in the

Bermuda with limited liability and the issued Shares of

which are listed on the GEM (Stock Code: 8202)

''Director(s)''

director(s) of the Company

''GEM''

the Growth Enterprise Market of the Stock Exchange

''GEM Listing Rules''

the Rules Governing the Listing of Securities on GEM

''Hong Kong''

the Hong Kong Special Administrative Region of the

People's Republic of China

''SFO''

Securities and Futures Ordinance (Chapter 571 of the Laws

of Hong Kong)

''Share(s)''

share(s) of par value of HK$0.01 each in the capital of the

Company

''Shareholder(s)''

holder(s) of the Share(s)

''Stock Exchange''

The Stock Exchange of Hong Kong Limited

By Order of the Board

Inno-Tech Holdings Limited

Wong Kam Fai

Executive Director

Hong Kong, 26 July 2019

- 2 -

As at the date of this announcement, the Directors are:

Executive Directors:

Independent non-executive Directors:

Mr. Zheng Pin (Vice Chairman)

Mr. Samuel Wong

Mr. Wong Kam Fai (Chief executive officer)

Mr. Tse Yuen Ming

Dr. Chan Yiu Wing

Mr. Tsang Chun Kit

Mr. Keung Kai Pong

Non-executive Directors

Cao Xinhuo

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the ''Latest Company Announcements'' page on the GEM website at www.hkgem.com for at least 7 days from the date of this posting and on the website of the Company at www.it-holdings.com.hk.

- 3 -

Disclaimer

Inno-Tech Holdings Limited published this content on 28 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2019 13:24:04 UTC

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