HighTide Therapeutics, CEO Terminate Loan Contract on Bourse's Concerns
MT Newswires Live
Jul 02
HighTide Therapeutics (HKG:2511) and CEO Liu Liping as borrower agreed to terminate a HK$15 million loan agreement effective immediately.
No amount was drawn under the loan facility, according to a Thursday bourse filing.
The move came as the Hong Kong bourse raised concerns about non-compliance with the listing rules.
The stock exchange said the facility may not be on normal commercial terms or better and a partial exemption should not have been applied at the time of the loan grant.
The bourse said the deal should have been subject to a circular, independent financial advice, and shareholders' approval.
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