Exchange’s Disciplinary Action Against Directors of GSN Corporations Limited (Delisted, Previous Stock Code: 8242) and Times Universal Group Holdings Limited (Stock Code: 2310)

The Stock Exchange of Hong Kong Limited has issued a Director Unsuitability Statement and censured Mr. Gan Lin and Ms. Li Nian. Mr. Gan, an executive director during the delisting of GSN Corporations Limited (GSN) and former executive director of Times Universal Group Holdings Limited, and Ms. Li, a former executive director of GSN, were found unsuitable to hold director or senior management positions in these companies or their subsidiaries. The Exchange’s Listing Division investigated their compliance with directors’ duties under the Listing Rules, but both failed to respond or cooperate with the investigation. The Exchange emphasizes that non-cooperation in investigations is a serious breach of the Listing Rules and that directors’ obligations to cooperate continue even after resignation or delisting.

Resources: Exchange’s Disciplinary Action Against Directors of GSN Corporations Limited (Delisted, Previous Stock Code: 8242) and Times Universal Group Holdings Limited (Stock Code: 2310) (hkex.com.hk)