Shanghai Industrial Urban Development Group Ltd ( (HK:0563) ) just unveiled an announcement.
Shanghai Industrial Urban Development Group Ltd announced that the Securities and Futures Commission (SFC) has initiated legal proceedings against eight former directors of 3DG Holdings (International) Limited, including Dr. Fan Ren Da Anthony, an independent non-executive director of the company. Despite the legal actions, the company’s board, excluding Dr. Fan, has reviewed the situation and determined that Dr. Fan remains suitable to continue his role, as no court order has been made against him, and the allegations do not involve dishonesty or fraud. The board will keep monitoring the legal proceedings and update stakeholders as necessary.
More about Shanghai Industrial Urban Development Group Ltd
Shanghai Industrial Urban Development Group Ltd is a company incorporated in Bermuda with limited liability, listed on the Stock Exchange of Hong Kong. The company is involved in urban development projects, focusing on real estate and infrastructure development.
YTD Price Performance: -10.81%
Average Trading Volume: 1,510,548
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$1.58B
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