The Stock Exchange of Hong Kong Limited issued a Director Unsuitability Statement and censured Mr. Yan Xiang, former Executive Director of Cathay Group Holdings Inc., for failing to cooperate with an investigation into his compliance with the Listing Rules. Despite receiving investigation and reminder letters, Mr. Yan did not respond, breaching his obligations under Rules 3.09C and 3.20. The Listing Committee deemed his non-cooperation serious and emphasized that directors’ responsibilities persist even after leaving their roles or after a company is delisted. The sanctions apply solely to Mr. Yan, not the company or its other directors.
Resources: https://www.hkex.com.hk/News/Regulatory-Announcements/2024/2412123news?sc_lang=en
