Hong Kong's Roma Group says chairman quits after arrest

Langu

21/04/2017 02:42

HONG KONG, April 21 (Reuters) - Valuation and advisory 
service firm Roma Group Ltd  8072.HK  on Friday said Kelvin Luk 
had resigned as chairman, chief executive officer and executive 
director following his arrest by the city's anti-corruption 
agency. 
    The Hong Kong-based company said Luk was arrested on 
Wednesday by the Independent Commission Against Corruption for 
his "alleged personal involvement" in a transaction with one of 
the firm's clients. Luk has been released on bail, and could not 
be reached for comment. 
    Hong Kong's anti-graft agency declined to comment.  
    Roma said the anti-corruption agency had conducted a search 
at the company's office earlier this week, and said the 
investigation had no material adverse impact to the firm and 
that its business and operations remained normal.  urn:newsml:reuters.com:*:nFWN1HR0XD 
    The company said its executive director, Ken Yue, had been 
re-designated as chairman and chief executive officer, and 
Connie Chan had been appointed as executive director. 
    Shares of Roma, with a market value of $23.2 million, 
plunged as much as 26 percent on Thursday to HK$0.031, the 
lowest since January 2016.     
     
    ($1 = 7.7749 Hong Kong dollars) 
 
 (Reporting by Donny Kwok; Editing by Anne Marie Roantree and 
Sherry Jacob-Phillips) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: ROMA GROUP PROBE/