GOLDLION HOLD Chairman Cheng Zhiming's privatization attempt failed, and the stock price fell nearly 40% after resuming trading

GOLDLION HOLD (00533.HK) privatization plan was not approved by shareholders, and the shares resumed trading today (12th), opening down 39.6% at HKD 0.9. Currently trading at HKD 0.96, down 35.57%, with a turnover of 7.023 million shares, involving HKD 6.5119 million.

GOLDLION HOLD stated that the chairman, Zeng Zhiming, suggested the company's privatization plan was not approved at the court meeting, where only 55.3% of voting shareholders supported the privatization resolution, falling short of the required 75% threshold, while 44.7% of voting shareholders opposed the proposal, exceeding the maximum opposition limit of 10%, thus the proposal was not passed