MONDAY, FEBRUARY 12, 1990
10
REPORTS ON MANDARIN RESOURCES SUBMITTED
THE
APPOINTED INSPECTORS
BY
SECRETARY
LTD HAVE SECRETARY,
то
FINANCIAL THE RESOURCES CORPORATION INVESTIGATE THE AFFAIRS OF MANDARIN SUBMITTED THEIR INTERIM AND FINAL REPORTS TO THE FINANCIAL A GOVERNMENT SPOKESMAN SAID TODAY (MONDAY).
WERE SECTION
THE INSPECTORS, MESSRS ROBERT KOTEWALL, QC, AND DAVID JORDAN, A
PUBLIC ACCOUNTANTS, PARTNER IN KWAN WONG TAN & FONG, CERTIFIED APPOINTED BY THE FINANCIAL SECRETARY IN JUNE 1989 PURSUANT TO 143(3)(C) OF THE COMPANIES ORDINANCE.
"THEY WERE SPECIFICALLY DIRECTED BY THE FINANCIAL SECRETARY FORFEITURE
1988 EXAMINE, AMONG OTHER THINGS, THE EVENTS LEADING TO THE 84,060,000 AND 48,000,000 SHARES OF THE COMPANY ON JUNE 21, SEPTEMBER 23, 1988 RESPECTIVELY.
E
TO
R
OF
AND
OF THE THAT ON THE BASIS "THE INSPECTORS WERE OF THE VIEW
WERE CARRIED THE FORFEITURES
WITH THE INFORMATION AVAILABLE TO THE COMPANY,
THE OUT IN GOOD FAITH AND FOR ITS INTENDED BENEFIT, EVEN THOUGH ** THE BENEFIT OF HINDSIGHT AND MATERIAL NOT AVAILABLE TO THE COMPANY AT MATERIAL TIMES, IT MAY NOT HAVE BEEN FULLY JUSTIFIED, SAID.
SPOKESMAN
THAT THE THOSE
SUGGESTED HAVE INSPECTORS THE IN THIS RESPECT,
AND COMPENSATE COMPANY SHOULD ENDEAVOUR TO ASCERTAIN, LOCATE GENUINE SHAREHOLDERS WHOSE SHARES HAVE BEEN FORFEITED.
AS IT
OF
OF THE INSPECTORS AFFECTS THE INTERESTS
IMPLICATIONS FOR
"THE GOVERNMENT SHARES THE CONCERN BELIEVES THAT ANY MATTER WHICH ADVERSELY BONA FIDE PURCHASERS OF SHARES COULD HAVE WIDE IMAGE OF HONG KONG AS AN INTERNATIONAL FINANCIAL CENTRE," OUT.
A COPY OF THE INTERIM AND FINAL REPORTS HAS BEEN COMPANY FOR ANY ACTION IT CONSIDERS APPROPRIATE.
AND
THE HE POINTED
SENT ΤΟ THE
COMMENTS
THE INSPECTORS HAVE ALSO MADE OTHER FINDINGS THE FINANCIAL SECRETARY IN THEIR REPORTS. AS THESE ARE MAINLY
LITIGATION IS PENDING TO MATTERS IN WHICH CIVIL
TO RELATED OR WHICH MAY BB FOR
SUBJECT TO CRIMINAL INVESTIGATION, IT IS CONSIDERED INAPPROPRIATE THEM TO BE PUBLISHED.
I
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