28 Sep 2012 18:27
28 September 2012
China Private Equity Investment Holdings Limited (AIM: CPEH)
("CPE" or the "Company")
Mr Duncan Chui
Further to the announcement of 28 August 2012, China Private Equity Investments Holdings Limited (AIM: CPEH) announces the following further information regarding Mr Duncan Chui, the Company's Chief Investment Officer (who is not a director of the Company), in relation to the censure of him by the Market Misconduct Tribunal in Hong Kong ("MMT") (the "Censure"),
The Censure relates to dealings by Mr Chui in the shares of a Hong Kong Stock Exchange listed company, Sino Katalytics Investment Corporation ("SKIC") which is unrelated to the Company, and which were undertaken in January 2009, prior to CPE being admitted to trading on AIM in October 2009. The report of the MMT concluded that Mr Chui was culpable of false trading, price rigging and stock market manipulation. As a result, the MMT has ordered that Mr Chui should not act as a director or take part in the management of a listed company for a period of two years, which Mr Chui has been advised relates to Hong Kong listed companies. Further, Mr Chui is not permitted, directly or indirectly, to deal in securities in Hong Kong and he has been ordered to pay aggregate costs to the Government of Hong Kong and the Hong Kong Securities and Futures Commission of HK$1.3 million.
The board of directors of the Company (the "Board") reiterates that the day to day management of the Company has not changed and there is no impact on the portfolio of CPE's investments as a result of the MMT decision. Specifically, the proposed listing of Fortel BVI continues to progress, with the listing application anticipated to be submitted to the Hong Kong Stock Exchange by the end of this year, as set out in the Company's interim results for the six months to 30 June 2012, announced on 26 September 2012. Mr Chui is not a director of any of CPE's investee companies and he does not participate in the day to day management of these companies.
Mr Chui has strongly denied the allegations made against him and has launched an appeal against the decisions of the MMT.
The MMT reports can be found on the MMT website at www.mmt.gov.hk.
For further information, please visit www.cpe-invest.comor contact:
Maria Leung, China Private Equity Investment Holdings Ltd:
Azhic Basirov / Siobhan Sergeant, Smith & Williamson Corporate Finance Ltd:
Allan Piper, First City Public Relations (Hong Kong):
Simon Hudson, Tavistock Communications (London):
www.cpe-invest.com
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Ticker symbol: CPEH |