Lee, Alan Yuk Lun 李鋈麟
Celebrate (8212) update
Company announcement, 2-Jul-2020
After Citizens (owned by Oshidori, 0622) on 12-May applied for winding-up in HCCW 95/2020, and after Manivest (appointed by Southwest, 0812) on 13-May applied for interim receivers in HCMP 469/2020, Citizens on 18-May applied to intervene in that case, to be heard on 18-Jun, but on 15-Jun Manivest applied to join HCCW 95/2020 and appoint their choice of liquidators, RSM, so on 18-Jun they withdrew HCMP 469/2020. The liquidation hearing is set for 9-Jul. Meanwhile on 19-Jun, Southwest wrote to the judge regarding the withdrawal, making what Celebrate calls "completely unfounded allegations against the Board… and other parties" and enclosing a chart. In response, the Board now adjourns the EGM requisitioned by Manivest (who have a 64.66% shareholding) to replace the Board which was scheduled for 3-Jul.
Company announcement, 2-Jul-2020
After Citizens (owned by Oshidori, 0622) on 12-May applied for winding-up in HCCW 95/2020, and after Manivest (appointed by Southwest, 0812) on 13-May applied for interim receivers in HCMP 469/2020, Citizens on 18-May applied to intervene in that case, to be heard on 18-Jun, but on 15-Jun Manivest applied to join HCCW 95/2020 and appoint their choice of liquidators, RSM, so on 18-Jun they withdrew HCMP 469/2020. The liquidation hearing is set for 9-Jul. Meanwhile on 19-Jun, Southwest wrote to the judge regarding the withdrawal, making what Celebrate calls "completely unfounded allegations against the Board… and other parties" and enclosing a chart. In response, the Board now adjourns the EGM requisitioned by Manivest (who have a 64.66% shareholding) to replace the Board which was scheduled for 3-Jul.
Southwest Securities (HK) Brokerage Ltd v Michael Ng Kwok Wing & others (HCA 1200/2019)
HK Court of First Instance, 11-Jun-2020
The court awards summary judgment to Southwest Securities against Nieumarkt Investments Ltd and Michael Ng Kwok Wing, who belatedly claimed a hidden collateral agreement that he was just a nominee on behalf of Southwest to takeover Celebrate (8212), which the judge calls "not reasonably capable of belief". Curiously, the 3rd defendant, Alan Lee Yuk Lun, is not involved in this application.
HK Court of First Instance, 11-Jun-2020
The court awards summary judgment to Southwest Securities against Nieumarkt Investments Ltd and Michael Ng Kwok Wing, who belatedly claimed a hidden collateral agreement that he was just a nominee on behalf of Southwest to takeover Celebrate (8212), which the judge calls "not reasonably capable of belief". Curiously, the 3rd defendant, Alan Lee Yuk Lun, is not involved in this application.
Southwest Securities (0812) receivers of 64.66% of Celebrate (8212) resigned, replaced
Company announcement, 7-Apr-2020
Company announcement, 7-Apr-2020
Southwest Securities (0812) appoints receivers of 64.66% of Celebrate (8212)
Company announcement, 3-Feb-2020
Although the appointment was purportedly made on 26-Nov-2019, "enforcement" was made on 24-Dec-2019 and a disclosure of interests was filed on 27-Dec-2019 and acknowledged by Celebrate on 30-Dec-2019. Proceedings against the borrower, Nieumarkt Investments Ltd, and guarantors Michael Ng Kwok Wing and Anson Li Chung Ngai are ongoing.
Company announcement, 3-Feb-2020
Although the appointment was purportedly made on 26-Nov-2019, "enforcement" was made on 24-Dec-2019 and a disclosure of interests was filed on 27-Dec-2019 and acknowledged by Celebrate on 30-Dec-2019. Proceedings against the borrower, Nieumarkt Investments Ltd, and guarantors Michael Ng Kwok Wing and Anson Li Chung Ngai are ongoing.
Southwest Securities (812) proceedings re defaulted HK$158.4m loan against Michael Ng Kwok Wing & Alan Lee Yuk Lun
Company announcement, 8-Jul-2019
The loan to Nieumarkt Investments Ltd is guaranteed by the two individuals and secured on its 64.66% shareholding in Celebrate (8212). The loan was used to finance the takeover of Celebrate in 2017.
Company announcement, 8-Jul-2019
The loan to Nieumarkt Investments Ltd is guaranteed by the two individuals and secured on its 64.66% shareholding in Celebrate (8212). The loan was used to finance the takeover of Celebrate in 2017.
Solartech (1166) to buy Pico Zeman Securities from Alan Lee Yuk Lun
Company announcement, 19-Oct-2015
Company announcement, 19-Oct-2015
Sun International (8029) carves up a horse
Company announcement, 14-Nov-2013
Perhaps they will name it "Tesco".
Company announcement, 14-Nov-2013
Perhaps they will name it "Tesco".
Raking muck, Part 1
In the first of a multi-part series, we delve into a transaction by the HK offshoot of Xinhua, the PRC's official news agency, and the people behind it. (21-Feb-2012)
In the first of a multi-part series, we delve into a transaction by the HK offshoot of Xinhua, the PRC's official news agency, and the people behind it. (21-Feb-2012)
Simsen (0993) sells Mayer $300m promissory note to Lee Yuk Lun for $10m
Company announcement, 13-Feb-2012
The promissory note was part of the security for a loan amount of $76m, of which $50m was syndicated to China Properties Inv (0736). Lee Yuk Lun is Chairman and CEO of Rising Development (1004).
Company announcement, 13-Feb-2012
The promissory note was part of the security for a loan amount of $76m, of which $50m was syndicated to China Properties Inv (0736). Lee Yuk Lun is Chairman and CEO of Rising Development (1004).
China Strategic bubble
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
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