The Stock Exchange of Hong Kong (HKEX) has issued a Statement of Disciplinary Action against two former directors of China Health Technology (HKG:1069), according to its Wednesday bourse filing.
The duo namely Wang Yue, a former executive director, and Tian Guangmei, a former independent non-executive director, have been censured and deemed unsuitable to hold director or senior management positions.
This Director Unsuitability Statement signifies HKEX's opinion that the two are unfit for such roles within the company or its subsidiaries.
The Listing Committee found Mr. Wang breached Rule 3.08 regarding certain loans, while both Mr. Wang and Ms. Tian breached rules by failing to cooperate in the Division's investigation concerning a disposal.
Their actions were deemed a serious failure to discharge their responsibilities under the Listing Rules. It is clarified that these sanctions apply solely to the two named former directors.
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