CHINA FISHERY GROUP LIMITED (Incorporated in the Cayman Islands)
This announcement is made by China Fishery Group Limited (Provisional Liquidators Appointed) (the 'Company') pursuant to Orders of the Court of the Hong Kong Special Administrative Region (the 'Court') dated 25 November 2015 (the 'Court Orders') and Rule 704 (21) of the Listing Manual of the Singapore Exchange Securities Trading Limited ('SGX-ST').
Pursuant to the Court Orders and until further notice:
Messrs. Edward Simon Middleton and Fergal Thomas Power (both of KPMG Hong Kong) and Kris Beighton (of KPMG Cayman Islands), (collectively, the 'JPLs') have been appointed jointly and severally as provisional liquidators of the Company and China Fisheries International Limited (a wholly owned indirect subsidiary of the Company incorporated in Samoa) (collectively, the 'Relevant Group Companies') in Hong Kong with effect from 25 November 2015; and
the JPLs are authorized and empowered by the Court to take all necessary actions to protect each Relevant Group Company's assets. The powers of the JPLs include, among other things, to take possession of or collect each Relevant Group Company's properties, investigate and conduct the affairs of each Relevant Group Company, to engage staff and advisors to assist them in the performance of their functions, the power to defend any actions or legal proceedings on behalf each Relevant Group Company, to execute all agreements and documents on behalf of each Relevant Group Company, to convene meetings of creditors and contributors and to take necessary steps to ensure the good management and security of the assets and undertakings of each Relevant Group Company's operating subsidiaries and affiliates.
As the JPLs have only just been appointed, they will be familiarising themselves with the affairs of the Relevant Group Companies, and the Company will in due course make announcements to further update its shareholders.
In the meantime, any queries from shareholders of the Company may be directed to Ms. Yvonne Chong, Associate Director at +852 2140 2296.
In view of current developments, the trading of shares of the Company on the SGX-ST, currently halted, will be suspended with immediate effect pending further notification from the Company.
For and on behalf of
(Provisional Liquidators Appointed)
Edward Simon Middleton Fergal Thomas Power and
Kris Beighton
Joint and Several Provisional Liquidators in Hong Kong Acting as agents without personal liability
27 November 2015
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