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King Stone Energy (0663): two VPs of CITIC Trust quit as NEDs "to pursue their other business"
Company announcement, 27-Feb-2012
What, simultaneously? Of course, this has nothing to do with the SEC's civil charges on 22-Feb-2012 against Zhao Ming and Zhu Liping, involving the alleged secret transfer of a 49% stake in Shanxi Puda Coal Group Co Ltd from Puda Coal Inc to CITIC Trust, does it? We note that Zhao Ming sold a coal business to King Stone Energy in late 2009, and King Stone signed a strategic co-operation agreement with CITIC Trust in 2011.
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