Brief: China Vered Financial Announces Key Findings Of Independent Investigation

China Vered Financial Holding

13/09/2022 23:45

Sept 14 (Reuters) - China Vered Financial Holding
Corporation Ltd  0245.HK :
    * ANNOUNCES KEY FINDINGS OF INDEPENDENT INVESTIGATION INTO
INVESTMENTS IN 2 SUBJECT FUNDS BY SHAREHOLDER VALUE OFFSHORE
FUND
    * KEY FINDINGS INCLUDE ISSUES WITH APPROVAL PROCESS FOR
INVESTING
IN THE 1ST LEVERAGE NOTE AND 2ND LEVERAGE NOTE
    * INDEPENDENT CONSULTANT OBSERVED INCOMPLETE INFORMATION WAS
PROVIDED TO APPROVE MASTER FUND’S INVESTMENT IN FIRST LEVERAGE
NOTE
    * INDEPENDENT CONSULTANT OBSERVED VALUE, EXISTENCE OF
UNDERLYING
ASSETS OF TWO SUBJECT FUNDS COULD NOT BE ASSESSED, AMONG OTHERS
    * INDEPENDENT CONSULTANT NOTED THERE WERE IRREGULARITIES AND
ANOMALIES IN INVESTMENTS IN TWO SUBJECT FUNDS
    * BOARD WILL SEEK LEGAL ADVICE AGAINST RELEVANT FORMER
EMPLOYEES
OF CO
    * TRADING IN SHARES OF CO WILL REMAIN SUSPENDED UNTIL CO
FULFILS
RESUMPTION GUIDANCE

Source text for Eikon:  ID:nHKS3sTnbW 
Further company coverage:  0245.HK 

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