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Midas Hldgs-S (01021) announces resumption conditions
06 Dec 2018
(Infocast News) Midas Holdings (01021), placed in the second delisting stage by the Stock Exchange, said that the second delisting stage will expire on 24 May 2019 and it should submit a viable resumption proposal to the Stock Exchange at least 10 business days before the second delisting stage expires (i.e. 10 May 2019) to address the following resumption conditions:

(a) demonstrate that the company has a sufficient level of operations or assets of sufficient value as required under Rule 13.24;
(b) conduct forensic investigations on the identified issues, disclose the findings and take appropriate rectification actions;
(c) publish all outstanding financial results and address any audit qualifications;
(d) conduct an independent internal control review and demonstrate that the company has put in place adequate internal control systems;
(e) demonstrate that there is no reasonable regulatory concern about the management integrity; and
(f) Inform the market of all material information.

(WL)
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