LET Group Holdings Limited announced the appointment of three new independent non-executive directors with auditing and accounting experience, as its Hong Kong trading suspension has been lifted.
The new appointees, Tou Kin Chuen, John Lo Wai Tung, and Johnson Fu Chi King will all become members of the LET Group – previously known as Suncity Group – holding roles in the Audit Committee, Nomination Committee, and Risk Management Committee.
Tou Kin Chuen, who was described as having 24 years of extensive experience in audit, taxation, company secretarial, insolvency, and finance, being affiliated with the Hong Kong Institute of Certified Public Accountants and the Taxation Institute of Hong Kong, will assume the role of chairman of the Audit Committee.
Following these appointments, the composition of the LET Group Board committees was said to have been ‘restructured to optimize efficiency and effectiveness’, with the changes said to show the company’s ‘commitment to robust governance practices’ and strategic leadership, positioning the company for sustained growth and success in the future.’
The same dispatch signed by the company’s CEO, Lo Kai Bo, also states that the suspension of trading enforced since February 14th will remain in place until the LET Group remedied the issues causing its trading suspension; and fully complies with the Listing Rules to the satisfaction of the Hong Kong Stock Exchange.
LET Group and its subsidiary Summit Ascent became non-compliant with Hong Kong stock exchange rules in January, subsequent to both companies experiencing a departure of directors following an attempted deal to dispose of the entity holding the gaming license for Tigre de Cristal.
