Macau Legend to suspend trading due to delays in annual results

Macau Legend has reported a delay in the release of the audited annual results for the year ended December 31.

Macau.- Macau Legend Development Ltd has reported that due to a delay in the release of its audited annual results for the year 2021, it expects its stock to be suspended from quotation on The Stock Exchange of Hong Kong from 9am on April 1. It said it may not be able to published its 2021 results on time for March 31

The statement reads: “According 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 following the Listing Rules, and the suspension will normally remain in force until the issuer publishes an announcement containing the requisite financial information.”

The company attributed the delay to travel restrictions and quarantine measures occasioned by the Covid-19 pandemic, which “brought difficulties to the financial reporting and consolidation process of the Company’s operations, and thus will require additional time to complete the process.” 

A few weeks ago, Macau Legend reported Melinda Chan Mei Yi has returned as chief executive officer following the arrest of Levo Chan Weng Lin for allegedly engaging in illegal gambling activities and money laundering.