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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Hong Kong Exchanges and Clearing Limited    0388   HK0388045442

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Hong Kong Exch&Clear : Announcement regarding cancellation of listing of Pan Sino International Holding Limited (In Liquidation) under Practice Note 17 to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited

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09/15/2011 | 12:55pm CEST

THE STOCK EXCHANGE OF HONG KONG LIMITED

(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

ANNOUNCEMENT

In relation to the matter of Pan Sino International Holding Limited

(In Liquidation)

(Stock Code: 502)

Cancellation of listing

in accordance with Practice Note 17 to the

Rules Governing the Listing of Securities on

The Stock Exchange of Hong Kong Limited (the “Listing Rules”)

The Stock Exchange of Hong Kong Limited (the Exchange) announces that the listing of the shares of Pan Sino International Holding Limited (In Liquidation) (the “Company”) will be cancelled with effect from 9:00 a.m. on 19 September 2011 in accordance with the delisting procedures stipulated in Practice Note 17 to the Listing Rules (the “Delisting Procedures”). Practice Note 17 to the Listing Rules formalises the procedures to be adopted to delist long-suspended companies.

Dealings in the Company’s shares have been suspended since 30 April 2007. Accordingly, dealings in the Company’s shares have effectively been suspended for over four years.

The Company was placed into the third stage of the Delisting Procedures on 18 August 2010. Under the Delisting Procedures, the Company is required to submit a viable resumption proposal at least 10 business days (as defined in the Listing Rules) before the expiry of the six-month period for the third stage. If the Company has not submitted a viable resumption proposal as required, the Exchange will cancel the listing of the Company’s shares. The Company submitted a resumption proposal to the Exchange prior to expiry of the third stage. However, the Exchange determined that the Company’s proposal was not viable. Therefore, the Exchange will cancel the listing of the Company’s shares.

The Exchange has notified the Company of its obligation under paragraph 3.1 of Practice Note 17 to issue an announcement informing the public of the cancellation of the listing of its shares on the same day of this announcement.

The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.

Ends

The Exchange hereby announces that with effect from 9:00 a.m. on 19 September 2011, the listing of the shares of the Company will be cancelled in accordance with the Delisting Procedures.
By the end of the deadline mentioned below, the Company has failed to submit a viable resumption proposal. Therefore, the Exchange will cancel the listing of the Company’s shares in accordance with the Delisting Procedures.
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Financials ( HKD)
Sales 2016 11 378 M
EBIT 2016 7 292 M
Net income 2016 6 106 M
Debt 2016 -
Yield 2016 2,41%
P/E ratio 2016 37,23
P/E ratio 2017 32,94
Capi. / Sales 2016 20,3x
Capi. / Sales 2017 18,4x
Capitalization 231 428 M
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Mean consensus UNDERPERFORM
Number of Analysts 16
Average target price 175  HKD
Spread / Average Target -8,2%
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Managers
NameTitle
Xiao Jia Li Chief Executive Officer & Executive Director
Chung Kong Chow Chairman
Trevor Spanner Chief Operating Officer
Paul Michael Kennedy Group Chief Financial Officer
Tang Bill Chow CTO & Head-Information Technology Division
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