AM Group Gets Fresh Resumption Guidance From HKEX Amid Fund Misuse Allegations
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AM Group Holdings has received new resumption guidance from the Hong Kong Stock Exchange amid allegations of misusing HK$16.5 million in company funds. Concerns include undisclosed agreements and possible fund misappropriation related to a 75% stake transfer and a 2020 acquisition. The company is required to conduct an independent forensic investigation and disclose findings. Trading in AM Group's shares has been suspended since September 24, 2024, and will remain halted until all conditions for resumption are fulfilled.
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