AM Group Holdings (HKG:1849) said it has received additional resumption guidance from the Hong Kong Stock Exchange following allegations of questionable transactions involving HK$16.5 million in company funds, according to a Wednesday bourse filing.

The exchange flagged concerns over alleged side arrangements tied to the transfer of a 75% stake in the company and the 2020 acquisition of Show Times (Hong Kong).

Allegations include undisclosed agreements involving Charm Winner Investment Group, unverified service contracts, and possible misappropriation of funds.

As part of the new guidance, the company must conduct an independent forensic investigation into the alleged cooperation agreements, loans, acquisitions, and share placements, disclose findings, and take remedial action.

Trading in AM Group's shares has been suspended since Sept. 24, 2024, and will remain halted until all resumption conditions are met.