BRIEF-Huarchi Global Plans To Resume Trading In Shares Of Co Has Derailed

Reuters

2023-05-18

May 18 (Reuters) - Huarchi Global Group Holdings Ltd

:

* PLANS TO FULFIL ALL RESUMPTION CONDITIONS WITHIN REMEDIAL PERIOD, RESUME TRADING IN SHARES OF CO HAS DERAILED

* SUBMITTED APPLICATION TO STOCK EXCHANGE FOR EXTENSION OF REMEDIAL PERIOD FOR EIGHT MONTHS TO 31 JANUARY 2024

* CONFIDENT REMAINING RESUMPTION CONDITIONS AS STIPULATED UNDER RESUMPTION GUIDANCE COULD BE FULFILLED IN ABOUT EIGHT MONTHS BY JAN 2024

* TRADING IN SHARES WILL REMAIN SUSPENDED UNTIL FURTHER NOTICE

* INDEPENDENT INVESTIGATOR FOUND NO SUBSTANTIVE EVIDENCE THAT BUSINESSES FOR 25 PROJECTS DID NOT EXIST

* INDEPENDENT INVESTIGATOR UNABLE TO INVESTIGATE WHETHER CHAIRMAN OF COMPANY WAS INVOLVED IN BRIBERY ALLEGATIONS ON A PERSONAL LEVEL

* INDEPENDENT INVESTIGATOR FOUND NO UNDISCLOSED CONNECTED TRANSACTION FOR ACCOUNTANTS' REPORT IN PROSPECTUS OF CO FOR LISTING

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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