Wednesday, May 1, 2013

HB Global Limited




















HB Global Limited (formerly known as Sozo Global Limited), one of the China company that listed in Bursa Malaysia, have an announcement as below on 29th April 2013,


OTHERS HB GLOBAL LIMITED (formerly known as Sozo Global Limited) (“HB” or “the Company”) - Delay in Submission of Audited Financial Statements for the Financial Year Ended 31 December 2012

HB GLOBAL LIMITED

TypeAnnouncement
SubjectOTHERS
DescriptionHB GLOBAL LIMITED (formerly known as Sozo Global Limited) (“HB” or “the Company”)
- Delay in Submission of Audited Financial Statements for the Financial Year Ended 31 December 2012

Pursuant to Paragraph 9.23(2) of the Listing Requirements of Bursa Malaysia Securities Berhad (“LR”), HB Global Limited (formerly known as Sozo Global Limited) (“HB” or “the Company”) is required to furnish its annual audited financial statements for the financial year ended 31 December 2012 together with the auditors’ and directors’ reports (“AFS 2012”) to Bursa Malaysia Securities Berhad (“Bursa Securities”) for public release within a period not exceeding four (4) months from the close of the financial year (“Relevant Timeframe”) which falls on 30 April 2013.

The Board of Directors of HB wishes to announce that the issuance of AFS 2012 will be delayed as the audit is currently still in progress and the Company wishes to provide more time for the external auditors to complete the AFS 2012. The Company is working with the external auditors to finalise the audit expeditiously.

The Company expects to submit its AFS 2012 within five (5) market days from the date of this announcement.

Pursuant to Paragraph 9.28(5) of the LR, if the Company fails to issue the outstanding AFS 2012 within five (5) market days after the expiry of the Relevant Timeframes (the last day of this five (5) market day period is referred to as “Suspension Deadline”), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of the Company. The suspension shall be effected on the next market day after the Suspension Deadline and will be lifted on the market day following the issuance of the outstanding AFS 2012 unless otherwise determined by Bursa Securities.

Pursuant to Paragraph 9.28(6) of the LR, if the Company fails to issue the outstanding AFS 2012 within six (6) months from the expiry of the Relevant Timeframes, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall commence de-listing procedures against the Company.

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