Brief: Analogue Updates On Cooperation Agreement With Competition Commission

Analogue Holdings

04/11/2022 01:24

Nov 4 (Reuters) - Analogue Holdings Ltd  1977.HK :
    * ON 3 NOV, CO, ATAL BUILDING SERVICES ENTERED COOPERATION
AGREEMENT WITH COMPETITION COMMISSION
    * AGREEMENT IN RELATION TO RESOLUTION OF PROCEEDINGS AND A
SECOND
SET OF PROCEEDINGS TO BE ISSUED
    * COMPANY WILL NOT BE NAMED AS A PARTY IN SECOND PROCEEDINGS
    * COMMISSION TO RECOMMEND COMPETITION TRIBUNAL FOR ORDER
THAT ATAL
BUILDING SERVICES PAYS AGGREGATE PECUNIARY PENALTY OF HK$150
MILLION TO HK GOVERNMENT
    * SEES DECREASE IN NET PROFIT BY AROUND 60% TO 65% FOR YEAR

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