After more than six years of trading suspension since 11 November 2010, with the tremendous effort of the existing Board of Directors, the Group succeeded in overcoming the obstacles and as such secured in December 2016 the Listing Appeals Committee’s conditional approval for its trading resumption proposal (the “Resumption Proposal”). In March 2017, the Group fulfilled all of the resumption conditions prescribed and signed settlement agreements with relevant parties to resolve all of the winding up petitions against it.
As a part of the Resumption Proposal, the Group conducted an open offer (“Open Offer”) in April 2017, which received overwhelming support from shareholders and the Open Offer was over-subscribed. After the Open Offer was completed, trading of the Group’s shares resumed on 9 May 2017, ending the more than six years of trading suspension.
The Group is now focusing on developing and strengthening its existing gold mining business and will explore investment opportunities that can help it broaden its income stream, enrich reserves and resources, and enhance its profitability. With a three-year business development plan well in-place targeting to substantially increase its mining and processing capacities and thus revenues and profits, the Group is hopeful about bringing fruitful returns to shareholders and also shareholders of its subsidiaries.
On behalf of the Board, I would like to take this opportunity to express sincere gratitude to all shareholders, investors, bankers, business associates and customers for their continuous support to the Group, and to all staff members for their hard work and contributions in the past years.