Webb-site Reports
News, analysis and opinions since 1998
RSS feed Follow us on Twitter Follow us on Facebook YouTube channel

Rui Kang Pharmaceutical Group Investments Limited 銳康藥業集團投資有限公司

SFC sanctions Capital VC and Peter Yau Chung Hong.  Our article of 14-Aug-2011
SFC, 22-May-2012
This case was triggered by Webb-site's article of 14-Aug-2011, when we pointed out that an offer should have been made for Longlife (8037). We regard the 18-month "Cold Shoulder Order" as light in duration. The statement says nothing about the fact that Mr Yau and Longlife combined held more than 30% of Capital VC (2324). Meanwhile, Mr Yau is involved in a separate case with the Market Misconduct Tribunal where a ruling is awaited.
Longlife (8037) buys 40m shares (1.63%) of Wo Kee Hong (0720) @$0.275
Company announcement, 20-Mar-2012
Volume on 16-Mar-2012 was zero, so the shares were purchased off-market.
Capital VC (2324) sells 8.85% of Longlife (8037) to Wong Chun Hung.  His filing
Disclosure of interest, 8-Sep-2011
Vincent Wong Chun Hung was Vice Chairman of Heritage (0412), a member of the "Chung Nam Network", until 19-Aug-2011.He was also a subscriber of shares in Radford (0901) in 2009.
Longlife (8037) resumes trading
Company announcement, 18-Aug-2011
The company fails to mention that it owned about 8.41% of Capital VC (at last filing) or explain why it bought those shares. The announcement is signed by Cheung Hung, Chairman of Longlife. As we noted in our article, he is a former NED of Capital VC.
Capital VC (2324) combined stake in Longlife (8037) with Mr Yau exceeded 30%
Company announcement, 17-Aug-2011
This follows our article of 14-Aug-2011. We alerted the SFC on 11-Aug-2011. CVC says that from 10-Jun-2011 to 28-Jul-2011, it and Mr Yau had a combined stake over 30% in Longlife. CVC will consult the SFC for a ruling or waiver, but defiantly says "irrespective of the result", it will not make a general offer and Mr Yau won't either. SFC urges CVC and Mr Yau to comply with the Takeover Code or face disciplinary action in respect of any breach. Watch this space.
Capital VC (2324) and Longlife (8037)
Our analysis shows that a general offer may have been triggered for Longlife and possibly for Capital VC too. We look at the close relationship between the two and the people involved. We also ask how a person could continue to act as director of a valuer, issuing valuation opinions for numerous listed companies, without disclosing that he was bankrupt at the time. (14-Aug-2011)

Sign up for our free newsletter

Recommend Webb-site.com to a friend

Important notice: All material on this site, except where otherwise accredited, is copyright to Webb-site.com. Media and researchers are welcome to quote from articles on this site, provided that such quotation is attributed to Webb-site.com. The information in this site should not be relied upon by any person in making any investment decision. No responsibility or liability is accepted by Webb-site.com or any person related to it for any loss arising from or in reliance upon the whole or any part of the contents of this site. Persons who are in any doubt about an investment or potential investment should take professional investment advice. From time to time parties associated with Webb-site.com may own long or short positions in securities issued by or related to companies or governments on which we comment.

Back to top