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Huang Guangyu 1.6 billion in assets frozen by the Hong Kong court ban - GOME Electrical Appliances,

By: HotBoy

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On 4 August to submit their applications to the Hong Kong courts to prohibit Huang Guangyu, the cuckoo and his wife, disposal or sale of the two holding companies held 1.66 billion Hong Kong dollars worth of Gome shares.

Following
GOME Electrical Appliances
(00493.HK) founder and largest shareholder
Huang Guangyu
Mainland assets were frozen last night (August 6) news from Hong Kong, Hong Kong, Hong Kong, the Court in an application for securities regulators have ordered the freezing of assets of Huang Guangyu.

It is reported that the Hong Kong Securities and Futures Commission (the SFC) on August 4 to submit their applications to the Hong Kong courts to prohibit Huang Guangyu, the cuckoo and his wife, two held by holding companies dispose of or sell the value of 1.66 billion Hong Kong dollars
States United States
Electric shares.

According to sources, the court ordered the paper noted that the Hong Kong Securities and Futures Commission, said Huang Guangyu, his wife and their holding companies cuckoo in violation of our laws against securities fraud or deceptive stock trading, futures contracts or leveraged foreign exchange trading requirements. Hong Kong Securities and Futures Commission apply to the court ordered compensation Gome Huang Guangyu, who caused the loss company.

Gome company yesterday (August 6) that there is any further response on this matter. But a person close to Gome told reporters that the country is also a U.S. company yesterday (August 6) was later learned the news from the media, as of yesterday, the company has not received from the Hong Kong courts or the SFC notice of any official documents, the same time, when the company learned of this news, the Hong Kong courts and the SFC have work and can not get timely communication with these departments to obtain further information on this incident so for the time being no more replies.

This person's analysis, because the company had not received any official document of the notice, it is estimated that this is related to individuals with Huang Guangyu, owned by Hong Kong Securities and Futures Commission move to protect the interests of shareholders and company management should not matter. This source also said the deadline last night 9:00, Gome is also meeting to study, not yet decided today (August 7) the need to publish notices and suspension.

Some analysts say the Hong Kong securities regulatory authorities an application by the Hong Kong court ordered the freezing of assets, Wong Kwong Yu, possibly because of their recent U.S. allotment of alleged breach of the participating countries. However, some analysts say the U.S. allotment is Huang Guangyu the participating countries as the largest shareholder of Gome should have the right, it will not harm the interests of shareholders, but at least show that the intensity of the central thorough investigation of Huang Guangyu case has increased.

Huang Guangyu alleged economic crimes arrested in November last year. Source had disclosed that
Wong Kwong Yu detained
Adjourned, the domestic capital account has been frozen. As the Mainland assets were frozen, Wong Kwong Yu had not enough cash to participate in the "new country the United States," the allotment of shares, therefore, on July 20 this year sold 235 million shares, average price of 1.705 Hong Kong dollars, accounting for 1.84% of the issued shares, a total of funding of about 4 million.

7 evening of 31, issued a public notice displayed Gome, Huang Guangyu funded 549 million Hong Kong dollars (about 483 million yuan) to subscribe for 816 million new shares of GOME, GOME full participation in the Placing. Analysts believe that this show has always been the hard-Huang Guangyu of GOME's determination to continue to control. Gome 2.57 to HK yesterday's closing price estimates, behind bars for Huang Guangyu alone the "buy low and sell high," the allotment action, book profit reached 1.548 billion Hong Kong dollars.

Gome's share price yesterday (August 6) has not been affected by the news, closing at 2.57 Hong Kong dollars, rose 3.63% compared with the previous trading day.

GOME yesterday (August 6) the total market capitalization of 37.3 billion Hong Kong dollars, Huang Guangyu of GOME Electrical Appliances friends now holds 34% stake in this calculation, the value of Huang Guangyu has now a total of 12.6 billion U.S. dollar in the country shares and 16.6 billion company's total shares of its 4.45% share of total shares held by Wong Kwong Yu, compared with 13.17%.

Article Source: http://depositarticles.com/

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