Ristora Investments Limited
The Joint Global implosion
A collapse in a hub of the "Chung Nam Network" has wiped about HK$2bn off the balance sheets of at least 11 listed companies, many of which never announced that they had invested in it. We piece together an ugly jigsaw and call on the SFC to investigate and HKEX to wake up and require announcements. (30-Sep-2016)
A collapse in a hub of the "Chung Nam Network" has wiped about HK$2bn off the balance sheets of at least 11 listed companies, many of which never announced that they had invested in it. We piece together an ugly jigsaw and call on the SFC to investigate and HKEX to wake up and require announcements. (30-Sep-2016)
Mason Financial (0273) to sell 52.69% of Co-Lead Holdings Ltd to Capital Union Inc.
| Circular
Company announcement, 30-Mar-2016
Mason doesn't say who owns the Purchaser, which it claims is an independent third party. The last time we heard (30-Jan-2009) it was controlled by Eugene Chuang Yue Chien, who is the brother of Henry Chuang Yueheng, who was Chairman of Mason until 1-Aug-2015. Under the Listing Rules, he remains a connected person for 1 year after that, and so does his brother, being his "associate". If the ownership of Capital Union has not changed, then this should be a connected transaction. Update: the circular on 23-Jun-2016 discloses 5 owners with 20% each (including a cousin) and denies any involvement of the brothers. It also reveals that Enerchina (0622) holds 5.44% of Co-Lead. Ristora Investments Ltd (owned by Karen Lo, wife of Eugene Chuang) has acquired West West Ltd (which CSPT (0139) sold to an unnamed party in Sep-2015), holding 5.32% of Co-Lead, and 210 shares (3.69%) once held by National Investments Fund (1227).
Company announcement, 30-Mar-2016
Mason doesn't say who owns the Purchaser, which it claims is an independent third party. The last time we heard (30-Jan-2009) it was controlled by Eugene Chuang Yue Chien, who is the brother of Henry Chuang Yueheng, who was Chairman of Mason until 1-Aug-2015. Under the Listing Rules, he remains a connected person for 1 year after that, and so does his brother, being his "associate". If the ownership of Capital Union has not changed, then this should be a connected transaction. Update: the circular on 23-Jun-2016 discloses 5 owners with 20% each (including a cousin) and denies any involvement of the brothers. It also reveals that Enerchina (0622) holds 5.44% of Co-Lead. Ristora Investments Ltd (owned by Karen Lo, wife of Eugene Chuang) has acquired West West Ltd (which CSPT (0139) sold to an unnamed party in Sep-2015), holding 5.32% of Co-Lead, and 210 shares (3.69%) once held by National Investments Fund (1227).
Agreement between Hao Tian (0474) and Ristora Investments Ltd dated 22-Jul-2013
Company filing, 2-Jul-2014
This recent filing under the Takeovers Code shows that the director of Ristora was Karen Lo Ki Yan. Ristora sold 45m shares of HEC Capital Ltd to Hao Tian for HK$270m.
Company filing, 2-Jul-2014
This recent filing under the Takeovers Code shows that the director of Ristora was Karen Lo Ki Yan. Ristora sold 45m shares of HEC Capital Ltd to Hao Tian for HK$270m.
China Strategic (0235): proposed acquisition of stakes in Cordoba Homes Ltd
Company announcement, 2-Sep-2013
An initial purchase of 77m shares (20.23%) from HEC Capital Ltd, which owns 100%, with subscription options to reach 51%, in effect a backdoor listing. The filing reveals that Cordoba's stake in Allied Weli Development Ltd (fka Hennabun Capital Group Ltd) valued at HK$1609m, was distributed to HECC in the year to Mar-2013. The stake was 47.96% at last dislcosure, 18-Sep-2012. Top current HECC holders are disclosed. We can add that Ristora is or was owned by Karen Lo Ki Yan and Quinella is or was owned by Lynn Hsieh Cheng Lu. Update: the deal was aborted on 29-Nov-2013.
Company announcement, 2-Sep-2013
An initial purchase of 77m shares (20.23%) from HEC Capital Ltd, which owns 100%, with subscription options to reach 51%, in effect a backdoor listing. The filing reveals that Cordoba's stake in Allied Weli Development Ltd (fka Hennabun Capital Group Ltd) valued at HK$1609m, was distributed to HECC in the year to Mar-2013. The stake was 47.96% at last dislcosure, 18-Sep-2012. Top current HECC holders are disclosed. We can add that Ristora is or was owned by Karen Lo Ki Yan and Quinella is or was owned by Lynn Hsieh Cheng Lu. Update: the deal was aborted on 29-Nov-2013.
Hao Tian (0474) buys 45m shares (5.04%) of HEC Capital Ltd from Ristora Investments Ltd for HK$270m
Company announcement, 22-Jul-2013
The vendor's owner is not disclosed, but in a previous filing, as of 15-Jan-2012, it was Karen Lo Ki Yan.
Company announcement, 22-Jul-2013
The vendor's owner is not disclosed, but in a previous filing, as of 15-Jan-2012, it was Karen Lo Ki Yan.
Willie (0273) sells convertible note in Cordoba Homes Ltd to Paul Suen Cho Hung (fka Sun Wang)
Company announcement, 16-Nov-2010
Company announcement, 16-Nov-2010
Willie sells 39.43% of Cordoba Homes Ltd to Karen Lo Ki Yan at HK$90m discount
| Circular
Company announcement, 2-Oct-2009
Assets include a yacht, artwork, paintings and a 10 carat diamond! According to a circular dated 23-Aug-07, the diamond was purchased from Karen Lo Ki Yan on 23-Apr-07 for $10m.
Company announcement, 2-Oct-2009
Assets include a yacht, artwork, paintings and a 10 carat diamond! According to a circular dated 23-Aug-07, the diamond was purchased from Karen Lo Ki Yan on 23-Apr-07 for $10m.
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy