The Securities and Futures Commission (SFC) today commenced criminal proceedings at the Eastern Magistrates’ Court against businessman Mr Wong Pak Ming for insider dealing involving the shares of Transmit Entertainment Limited (formerly known as Pegasus Entertainment Holdings Limited) (Pegasus) (Notes 1 and 2).
Wong is suspected to have counselled or procured another person to deal in the shares of Pegasus around 25 August 2017 to 17 October 2017 while he was the chairman and the controlling shareholder of Pegasus and having information which he knew was inside information in relation to Pegasus.
No plea was taken and the Court adjourned the case to 27 March 2025.
Wong was granted bail on the following conditions: (i) cash bail of $200,000; (ii) he shall reside at the home address provided and inform the Police prior to any change of residence; and (iii) he shall inform the SFC 24 hours prior to leaving Hong Kong.
Note:
- Insider dealing constitutes an offence contrary to section 291 of the Securities and Futures Ordinance.
- Pegasus was listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (SEHK) on 31 October 2012 and was transferred to the Main Board of SEHK on 9 January 2015. It was renamed Transmit Entertainment Limited from 13 March 2018 after Wong disposed of his controlling stake in Pegasus.
