CMR says chairman Chun’s stake sale still ‘under way’

China Metal Recycling said the transfer of shares from its chairman and ceo Jacky Chun to a Chinese state-owned group was still planned, even as the scrap company’s shares remained in a trading halt.

The firm, which is fighting allegations from a US-based investment research group, said the sale to China Energy Conservation and Environmental Protection Group was still “underway”. The sale agreement filed with Hong Kong Exchanges and Clearing on January 25 suggested that the deal could lapse in the case of a prolonged share suspension. “Completion is conditional...


March 01, 2013

04:55 GMT