HK Stock Market Move | PALADIN (00495) once plummeted by over 50% and intends to apply for a review of the decision to suspend the trading of the company's shares on the stock exchange.

PALADIN (00495) once plummeted by over 50%, and as of the time of writing, it had dropped by 45.83% to 0.026 Hong Kong dollars, with a turnover of 26.38 thousand Hong Kong dollars. In terms of news, PALADIN announced that it received a letter from the Listing Division of the Stock Exchange last Friday (15th), stating that the Listing Division has decided that the company has failed to maintain a sufficient level of operations and assets of sufficient value as required by Rule 13.24 of the Listing Rules, and the trading of the company's shares should be suspended under Rule 6.01(3) of the Listing Rules. The Listing Division has stated that unless the company applies for a review of the decision under Chapter 2B of the Listing Rules, trading of the company's shares will be suspended on November 27. According to Rule 6.01A(1) of the Listing Rules, if a company's shares remain suspended for 18 months, the Stock Exchange may cancel its listing status. In accordance with Chapter 2B of the Listing Rules, the company has the right to request that the Listing Committee review the decision of the Listing Division. Any request for review must be submitted to the Secretary of the Listing Committee within 7 business days starting from November 15, 2024. The company intends to apply for this review.