Cheng, Kwan Yu (1983) 鄭君瑜
Tsang Chung Yu, ex-INED of Metaverse Yunji (ex-8287) and 11 others charged with alleged 66m share options fraud
| ICAC announcement
SFC, 25-Oct-2024
We note that the 5-year options were granted on 8-Sep-2022, in the midst of a court battle for control of the board, exhausting the 10% limit in one go. All 10 recipients chose to exercise the options that day, with shares issued on 9-Sep-2022 and deposited with the same broker in CCASS. Only 2 purported directors, including Mr Tsang, signed the attendance sheet of the board meeting to grant the options. The other was ED Mr Cheng Kwan Yu, who is not charged. All 10 grantees are charged, along with a Chan Wai Lung, whose alleged role is not yet known. Helpfully, the ICAC routinely gives the ages of defendants. The SFC fails to do so, making it harder to identify them.
SFC, 25-Oct-2024
We note that the 5-year options were granted on 8-Sep-2022, in the midst of a court battle for control of the board, exhausting the 10% limit in one go. All 10 recipients chose to exercise the options that day, with shares issued on 9-Sep-2022 and deposited with the same broker in CCASS. Only 2 purported directors, including Mr Tsang, signed the attendance sheet of the board meeting to grant the options. The other was ED Mr Cheng Kwan Yu, who is not charged. All 10 grantees are charged, along with a Chan Wai Lung, whose alleged role is not yet known. Helpfully, the ICAC routinely gives the ages of defendants. The SFC fails to do so, making it harder to identify them.
Zioncom (8287): new board suspects grant of 66m options were "not genuine"
Company announcement, 18-Nov-2022
The attendance sheet for the board meeting that approved the options was signed only by Cheng Kwan Yu (who was once an Executive Director) and Tsang Chung Yu (who was once an INED).
Company announcement, 18-Nov-2022
The attendance sheet for the board meeting that approved the options was signed only by Cheng Kwan Yu (who was once an Executive Director) and Tsang Chung Yu (who was once an INED).
Absolute Skill Holdings Ltd v Kim Jun Yeob & others
| Company announcement
HK Court of First Instance, 28-Oct-2022
Solicitor Mr Pang Kam Wing, an NED of Zioncom (8287) is found to have acted in bad faith in preventing the plaintiff, ASH, from voting at the EGM on 29-Apr-2022 belatedly convened by the Company in response to a requisition by ASH of resolutions to remove 6 directors. The court rules that at the EGM convened an hour later by ASH, the resolutions were valid and passed, removing the 6 directors.
HK Court of First Instance, 28-Oct-2022
Solicitor Mr Pang Kam Wing, an NED of Zioncom (8287) is found to have acted in bad faith in preventing the plaintiff, ASH, from voting at the EGM on 29-Apr-2022 belatedly convened by the Company in response to a requisition by ASH of resolutions to remove 6 directors. The court rules that at the EGM convened an hour later by ASH, the resolutions were valid and passed, removing the 6 directors.
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