Macau Legend Development Limited is expressing concern about the delay in the release its audited year-end results for the 31 December 2021. This may be due to the fact that the company has not yet completed its consolidated financial statement.
The group stated that the delay is due to the travel restrictions and quarantine measures amid the ongoing Covid-19 pandemic, which “inevitably brings difficulties to the financial reporting and consolidation process of the company’s operations.”
Macau Legend Development indicated that this will take additional time and it may not publish the 2021 annual results by 31 March 2022.
If the listing results are not published in time, then the rules governing the listing of securities on the Stock Exchange of Hong Kong Limited will require the group to stop trading.
“Pursuant to Rule 13.50 of the Listing Rules, The Stock Exchange of Hong Kong Limited will normally require suspension of trading in an issuer’s securities if an issuer fails to publish periodic financial information in accordance with the Listing Rules, and the suspension will normally remain in force until the issuer publishes an announcement containing the requisite financial information,” a statement from Macau Legend Development read.
“Accordingly, trading in the shares of the company on the Stock Exchange is currently expected to be suspended with effect from 9: 00 a.m. on 1 April 2022 until the publication of the announcement in relation to the 2021 annual results by the company.”
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