Applied Development : Voluntary Announcement - Update on Court Actions
06/11/2012| 09:12am US/Eastern
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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 however 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: 519)
VOLUNTARY ANNOUNCEMENT UPDATE ON COURT ACTIONS
This announcement is made by the Company on a voluntary
basis.
Reference is made to the Company's announcements of 4 May
2012 and 1 June 2012 regarding the Judgment of the Court in
HCMP 243 and 522/2011 (the "Court Actions"). The directors of
the Company (the "Directors") wish to update the shareholders
of the Company and the public on the status of the Court
Actions.
On 4 May 2012, the Court gave a Judgment as stated in the
Company's announcement of 4 May
2012, including item 5 where Ms. Wong Kar Gee Mimi ("Ms.
Wong') was ordered to, on or before
4 p.m. on 3 June 2012, vacate and deliver up possession (the
"Vacant Possession Order") of Units A and B on
1st Floor of Severn Villa, No. 3 Severn Road,
the Peak, Hong Kong (the "Severn Villa Properties").
On 1 June 2012, Ms. Wong made an urgent application to stay
the execution of the Vacant Possession Order (the "Urgent
Extension Application"). The Court granted a short interim
stay of execution of the Vacant Possession Order and ordered
the Urgent Extension Application to be relisted for
hearing.
On 8 June 2012, the Urgent Extension Application was heard
and the Court made an order for Ms. Wong to return possession
the Severn Villa Properties to the Company by 4 p.m. on 11
June 2012 and to vacate all items in the Severn Villa
Properties by 4 p.m. on 17 June 2012.
On 11 June 2012, Ms. Wong retuned possession of the Severn
Villa Properties to the Company.
Shareholders and potential investors are advised to exercise
caution when dealing in the shares of the Company.
This announcement is made by Applied Development Holdings
Limited (the "Company") on a voluntary basis, under the
general obligation imposed on the Company by the Rules
Governing the Listing of Securities on the Stock Exchange of
Hong Kong Limited (the "Listing Rules").
Reference is made to the Company's announcements of 4 May
2012 and 1 June 2012 regarding the
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Judgment of the Court in the Court Actions. The Directors
wish to update the shareholders of the
Company and the public on the status of the Court
Actions.
On 4 May 2012, the Court gave a Judgment as stated in the
Company's announcement of 4 May
2012, including item 5 where Ms. Wong has been ordered to, on
or before 4 p.m. on 3 June 2012, vacate and deliver up
possession of the Severn Villa Properties.
On 1 June 2012, Ms. Wong made the Urgent Extension
Application to the Court to stay the execution of the Vacant
Possession Order for 14 days. The Directors, in the best
interests of the Company, strenuously objected to the Urgent
Extension Application. However, the Court granted a short
interim stay of execution of the Vacant Possession Order and
ordered the Urgent Extension Application to be relisted for
hearing on 8 June 2012.
On 8 June 2012, the Company (together with Severn Villa
Limited and Applied Properties Limited) attended the relisted
hearing of the Urgent Extension Application. At the hearing,
Ms. Wong sought a further stay of execution of the Vacant
Possession Order for 9 days to 11:55 p.m. on 17 June 2012 as
she required further time to move her new premises. The
Company objected to this further stay. The Court ordered that
Ms. Wong must return possession of the Severn Villa
Properties to the Companies by 4 p.m. on 11 June 2012 and to
vacate all items in the Severn Villa Properties by 4 p.m. on
17 June 2012.
As at 11 June 2012, Ms. Wong has personally vacated the
Severn Villa Properties. The Company will closely monitor the
situation and will provide the shareholders of the Company
and the public with further updates when necessary.
Shareholders and potential investors are advised to exercise
caution when dealing in the shares of the Company.
Hong Kong, 11 June 2012
By order of the Board
Applied Development Holdings Limited
Hung Kai Mau, Marcus
Chairman
As at the date hereof, Mr. Hung Kai Mau, Marcus is an
executive Director of the Company; Mr. Lun Tsan Kau, Mr. Su
Ru Jia, Mr. Lo Yun Tai and Mr. Chan Ming Fai, Terence are
independent non-executive Directors of the Company.
* for identification purpose only
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