GEOTECH HLDGS (01707) clarification: The restriction order mainly concerns Mr. Chen's personal assets, not any assets, operations, or business of the Group.
Haotai Holdings (01707) issued an announcement that the board of directors has noted a news report published by https://www.hk01.com on May 13, 2026, which claims that the Hong Kong High Court has issued a restraining order against Mr. Chen's assets (including several securities of the company), collectively referred to as "the matter".
GEOTECH HLDGS (01707) issued an announcement, stating that the Board of Directors (the Board) of the Company has taken note of a news report published on May 13, 2026 by https://www.hk01.com (the Report), which includes information regarding an alleged restraining order issued by the Hong Kong High Court on certain assets of Mr. Chan (including several securities of the Company) (referred to collectively as "the Matter").
After conducting all necessary inquiries, the Board wishes to clarify and inform the Company's shareholders and potential investors of the following:
(1) Based on the information currently available to the Company, neither the Company nor any other member of the Group are respondents, defendants, or parties in the legal proceedings mentioned in the Report. Apart from the Company's shareholdings held by Mr. Chan as the controlling shareholder of the Company (as disclosed in the sanction announcement and other public disclosure documents of the Company), it has been ascertained by the Board after conducting all necessary inquiries that there are no directors, senior management of the Group, or employees involved in any activities related to the Matter;
(2) As mentioned in the Report, the Matter primarily concerns Mr. Chan's personal assets and not any assets, businesses, or operations of the Group. The impact of the Matter on the Group's business operations and financial condition, if any, is still being evaluated; and
(3) Apart from this announcement, the sanction announcement, and other announcements published on the website of the Hong Kong Stock Exchange by the Company, the Board is not aware of any other matters related to the Matter that constitute inside information of the Company and require disclosure in accordance with the insider information provisions. The Company will continue to closely monitor the developments of the Matter and will issue further announcements at the appropriate time in compliance with the Listing Rules and other applicable laws and regulations.
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