South Manganese Investment Limited (HK:1091) has released an update.
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South Manganese Investment Limited announced the unauthorized publication of misleading information by its subsidiary, SMG, prompting a substantial shareholder to consider legal actions and raising concerns over potential management issues. The company’s board is initiating an independent investigation into the allegations against certain executive directors and asserts that the incident does not significantly impact the company’s overall financial health. Trading of the company’s shares, which was temporarily halted, is set to resume, with a cautionary advice to shareholders and potential investors regarding the security dealings.
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