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BRIEF-China Huishan Dairy responds to unsual decrease in share price
March 27, 2017 / 11:20 PM / 8 months ago

BRIEF-China Huishan Dairy responds to unsual decrease in share price

March 28 (Reuters) - China Huishan Dairy Holdings Company Ltd

* Noted that during morning trading session on 24 March 2017, price of shares in company dropped to an intra-session low of HK$0.25 per share

* Noted rumours that controlling shareholder of company, Yang Kai, has misappropriated RMB3 billion

* Categorically denies having approved issue of any forged invoices and does not believe there to be any misappropriation

* Noted rumours that Bank Of China undertook audit of co and discovered large number of forged invoices issued by members of group

* Media has also reported that company has lost contact with one of its executive directors, Ge Kun

* Also come to Yang Kai’s attention that company had been late in some bank payments

* There are also market rumours that shares of co pledged by its controlling shareholder have been subject of margin calls and sold Source text for Eikon: Further company coverage:

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