IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE
ACTION NO. 1754 OF 2015
1. The resumption notice was published on 22 April 2015. Nothing in reliance on that can be urgent.
2. On dissipation, Mr Zhi accepts that he has no locus standi. Furthermore, he has given no information on how he had learned that there will be dissipation of shares of D18 shortly.
3. He also wants to stop the defendants from voting their shares at the AGM on 4 September 2015. He says that the shareholders couldbe asked to vote for the reappointment of the Board. I think if the Board is to continue, then there is no urgent problem. If theBoard is problematic, it has been so since its appointment in February 2015.
4. Mr Zhi also says that the AGM will approve the audited report, but if the report is wrong, the approval will not make it right.
5. Mr Zhi has also reported his complaints to the Hong Kong Stock Exchange (“HKSE”). He says that the HKSE is investigating thematter. If there is any urgency, I am sure the HKSE would have acted already.
6. Since there is no urgency and Mr Zhi has admitted his want of locus standi, I dismiss the injunction. I also order him to pay the costs of D3, 4, 5 and 18.
The plaintiff appeared in person
Ms Roberta Chan, of Baker & McKenzie, for the 3rd to 5th and 18th defendants
The 1st, 2nd and 6th to 17th defendants were not represented and did not appear