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Ourgame International Holdings Ltd ( (HK:6899) ) has shared an announcement.
Ourgame International Holdings Limited has launched legal proceedings in the High Court of Hong Kong against its former executive director and chief executive officer, Ng Kwok Leung Frank, seeking repayment of a HK$5 million loan plus interest and recovery costs. Following internal investigations, the company alleges that during his tenure Ng organised former employees to engage in illegal and criminal activities and misappropriated or embezzled company assets under the guise of investments, breaching his fiduciary duties. Ourgame plans to file further court actions for compensation of losses and report the matter to the police, and says it will continue using investigation, litigation, arbitration and cooperation with authorities to recover historical loans, receivables and any misappropriated funds, signalling a more assertive stance on governance and protection of shareholder interests.
The most recent analyst rating on (HK:6899) stock is a Hold with a HK$0.22 price target. To see the full list of analyst forecasts on Ourgame International Holdings Ltd stock, see the HK:6899 Stock Forecast page.
More about Ourgame International Holdings Ltd
Ourgame International Holdings Limited is a Cayman Islands-incorporated company listed in Hong Kong, operating in the online and interactive entertainment sector. The group develops and operates internet-based games and related platforms, targeting users in Mainland China and other markets through digital entertainment services.
YTD Price Performance: 25.26%
Average Trading Volume: 1,718,274
Technical Sentiment Signal: Hold
Current Market Cap: HK$250.7M
See more data about 6899 stock on TipRanks’ Stock Analysis page.