The Market Misconduct Tribunal (MMT) today handed down its decision that three former executives of Asia TeleMedia Limited (ATML) (now known as Reorient Group Limited), Mr Yiu Hoi Ying, Ms Marian Wong Nam and Ms Cecilia Ho King Lin, had not engaged in insider dealing in the shares of ATML in 2007 (Notes 1 & 2).
The MMT also decided that it was not possible to decide whether ATML’s former chairman, Mr Lu Ruifeng, had engaged in insider dealing as, owing to evidence of acute illness, he was not given a reasonable opportunity of being heard.
The Securities and Futures Commission (SFC) is studying the report (Note 3).
The MMT will later hear from the parties as to the costs of the proceedings.
Notes:
- The Market Misconduct Tribunal was chaired by The Honourable Mr Justice Michael Hartmann with two lay members, Mr Stephen Chan Sai Hung and Dr Ricky Chu Keung Wah.
- The MMT’s report is available on its website (www.mmt.gov.hk).
- Please see the SFC’s press releases dated 2 May 2008, 5 November 2008 and 6 December 2010 and 29 January 2014.
