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Advised the Target Company on its Successful Appeal to the Listing Appeals Committee

Pursuant to the resumption proposal of a Hong Kong listed company in provisional liquidation (the “Company”), the Company intended to acquire the Target Company, which shall constitute a reverse takeover involving a new listing application of the Target Company.

The Stock Exchange expressed concern over the integrity of the Target Company’s controlling shareholder as a result of possible non-compliance of the controlling shareholder as inferred in the court judgment on the conviction against a former government official for corruption and was of the view that the controlling shareholder was not considered to be suitable to serve as a director of a listed company and that the Target Company would not be considered suitable for listing.

Chungs Lawyers (in association with DeHeng Law Offices) advised the Target Company in the review hearing and assisted in making submissions to the Listing Appeals Committee and successfully persuaded together with other professional parties the Listing Appeals Committee of overturning the decision of the Stock Exchange. As such, the Company and the Target Company are able to proceed with application for the new listing application and the resumption.

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