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BRIEF-China Vered Financial Announces Key Findings Of Independent Investigation

BRIEF-China Vered Financial Announces Key Findings Of Independent Investigation

Reuters · 09/13/2022 18:45
BRIEF-China Vered Financial Announces Key Findings Of Independent Investigation

- China Vered Financial Holding Corporation Ltd 0245.HK:

  • ANNOUNCES KEY FINDINGS OF INDEPENDENT INVESTIGATION INTO INVESTMENTS IN 2 SUBJECT FUNDS BY SHAREHOLDER VALUE OFFSHORE FUND

  • KEY FINDINGS INCLUDE ISSUES WITH APPROVAL PROCESS FOR INVESTING IN THE 1ST LEVERAGE NOTE AND 2ND LEVERAGE NOTE

  • INDEPENDENT CONSULTANT OBSERVED INCOMPLETE INFORMATION WAS PROVIDED TO APPROVE MASTER FUND’S INVESTMENT IN FIRST LEVERAGE NOTE

  • INDEPENDENT CONSULTANT OBSERVED VALUE, EXISTENCE OF UNDERLYING ASSETS OF TWO SUBJECT FUNDS COULD NOT BE ASSESSED, AMONG OTHERS

  • INDEPENDENT CONSULTANT NOTED THERE WERE IRREGULARITIES AND ANOMALIES IN INVESTMENTS IN TWO SUBJECT FUNDS

  • BOARD WILL SEEK LEGAL ADVICE AGAINST RELEVANT FORMER EMPLOYEES OF CO

  • TRADING IN SHARES OF CO WILL REMAIN SUSPENDED UNTIL CO FULFILS RESUMPTION GUIDANCE

Source text for Eikon: ID:

Further company coverage: 0245.HK


((Reuters.Briefs@thomsonreuters.com;))