HKSE: Brightoil Petroleum Holdings shares to be cancelled from 20 October, 2020
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by Admin
The Stock Exchange of Hong Kong Ltd on Friday (16 October) announced the listing of Brightoil Petroleum (Brightoil) Holdings Limited’s shares will be cancelled with effect from 9:00 am on Tuesday, 20 October 2020.
Trading in Brightoil’s shares has been suspended since 3 October 2017, and under Rule 6.01A, the exchange explained it may delist the company if trading does not resume by 31 January 2020.
The exchange added that Brightoil failed to fulfil all the resumption conditions set by the exchange and resume trading in its shares by 31 January 2020.
The order of events was outlined by the exchange as follows:
- On 28 February 2020, the Listing Committee decided to cancel the listing of Brightoil’s shares on the Exchange under Rule 6.01A.
- On 9 March 2020, Brightoil sought a review of the Listing Committee’s decision by the Listing Review Committee.
- On 7 October 2020, the Listing Review Committee upheld the decision to cancel Brightoil’s listing.
The Exchange added it has requested Brightoil to publish an announcement on the cancellation of its listing.
Photo credit: Dan Freeman on Unsplash
Published: 19 October, 2020
