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Company announcement, 8-Dec-2021
Astonishingly, the 86m shares were allotted on 29-Sep-2021 without having been paid for, and 40m of the shares were deposited into the clearing system with a broker, Well Link Securities Ltd, for the subscriber's account. A week later, the stock crashed 77%, and now the subscriber has defaulted. We note that Keith Kwan Kin Man, the CFO of Well Link, was once a licensed representative of Adamas Asset Management (HK) Ltd, which was then 50% owned by Barry Lau.
Organisations
- ACCP Global Limited
- CA Cultural Technology Group Limited 華夏文化科技集團有限公司
- Credit Suisse Securities (Hong Kong) Limited 瑞士信貸證券(香港)有限公司
- Well Link Securities Limited 立橋證券有限公司
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