Brief: Mayer Says Recently Received Complaints From Complainants Who Made Several "Allegations"

Huiyuan Cowins Technology

15/06/2023 15:09

June 15 (Reuters) - Mayer Holdings Ltd  1116.HK :
    * RECENTLY RECEIVED COMPLAINTS FROM COMPLAINANT(S) WHO MADE
SEVERAL "ALLEGATIONS"
    * ALLEGATIONS ALLEGE THAT ALLEGED CONTROLLER MISAPPROPRIATED
FUNDS
IN AGGREGATE AMOUNT OF HK$205 MILLION FROM CO
    * MAJORITY OF BOARD IS OF VIEW THAT ALLEGATIONS ARE
"UNFOUNDED AND
MADE WITHOUT BASIS"
    * ALLEGATIONS ALLEGE THAT ALLEGED CONTROLLER DEFAULTED ON
REPAYMENT OF BORROWING FROM CO WHICH CAUSED DELAY IN PROGRESS OF
A PROJECT
    * ALLEGATIONS ALLEGE THERE WAS PURPOSEFUL DELAY OF BOARD
MEETING
BY CERTAIN DIRECTORS AND CO SECRETARY OF CO
    * INDEPENDENT INVESTIGATION COMMITTEE, COMPRISING ALL
INDEPENDENT
NON-EXECUTIVE DIRECTORS ESTABLISHED TO CONDUCT INTERNAL
INVESTIGATION
    * INDEPENDENT INVESTIGATOR SUBSEQUENTLY APPOINTED TO PERFORM
AN
INVESTIGATION

Further company coverage:  1116.HK 

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