On 10 September 2014, Pearl River Tyre (HK1187) Board received a letter from The Stock Exchange of Hong Kong Limited (“Stock Exchange”), in which the Stock Exchange has imposed the following resumption conditions (“Resumption Conditions”) on the Company:
1. disclose the findings of the Forensic Review and address issues identified by Deloitte & Touche Financial Advisory Services Ltd; and if necessary, conduct further investigations with appropriate scope;
2. demonstrate sufficient operations or assets under rule 13.24 of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”);
3. publish all outstanding financial results and address audit qualifications in its results (if any); and
4. demonstrate adequate internal controls have been put in place by the Company.
The Stock Exchange may modify any of the above Resumption Conditions and/or impose further conditions if the situation changes.
The Company is taking appropriate steps to fulfil the Resumption Conditions and will keep its shareholders and potential investors informed of the progress as and when appropriate.
At the request of the Company, trading in the shares of the Company on the Stock Exchange has been suspended with effect from 9:00 a.m. on 1 April 2014 and will continue to be suspended until further notice.
