China Shanshui Cement contests liquidation petition

Business | 5 Sep 2018 2:30 pm

China Shanshui Cement Group (0691) says it will contest a winding up petition filed on August 30 by Tianrui (International) Holding Company, which holds 28.16 percent of the issued share capital of the company and is a substantial shareholder.

The company intends to strongly oppose the petitions – filed in the Cayman Islands and in Hong Kong – and is seeking legal advice, chairman Chang Zhangli, said in a filing to the stock exchange yesterday.

Due to the failure to meet the minimum public float requirement and the failure to address the audit issues concerning 2015 and 2016 annual results/report of the company, trading in the shares and debt securities of the company remain suspended.

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