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Raffles Interior Ltd. ( (HK:1376) ) just unveiled an announcement.
Raffles Interior Limited has disclosed that the High Court of Hong Kong has ruled against executive director Mr. Zheng Nenghuan and Han Vision Holding Limited in a defamation case brought by executive director Mr. Ding Hing Hui. The Court ordered a public apology in a local newspaper, granted an injunction to stop further defamatory statements, and required that the company’s earlier circular related to an extraordinary general meeting be withdrawn and clarified.
The defamation ruling centers on false statements about Mr. Ding contained in the withdrawn circular, which had been used to support a shareholder-initiated attempt to remove most of the board while retaining Mr. Zheng. The judgment, which may still be appealed, adds a new layer of governance and reputational risk for Raffles Interior, and the board has indicated it will issue further announcements on any significant developments for shareholders and potential investors.
More about Raffles Interior Ltd.
Raffles Interior Limited is a Cayman Islands-incorporated company listed in Hong Kong, operating in the interior solutions and related services sector. The company is governed by a board comprising executive and independent non-executive directors, with executive director Mr. Zheng Nenghuan currently having his executive and administrative duties suspended.
Average Trading Volume: 1,363,870
Technical Sentiment Signal: Sell
Current Market Cap: HK$96M
Learn more about 1376 stock on TipRanks’ Stock Analysis page.