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FinancialLegal & Regulatory

Macau Legend Development could suspend trading amid delayed financial results

Macau Legend Development Limited says there may be a delay in the release of its audited annual results for the year ended 31 December 2021, as the group is currently unable to finalise its consolidated financial statements.

macau legend

The group stated that the delay is due to the travel restrictions and quarantine measures amid the ongoing Covid-19 pandemic, which “inevitably brings difficulties to the financial reporting and consolidation process of the company’s operations.”

Macau Legend Development noted that it will require additional time to complete the process, and so it may not be able to publish its 2021 annual results on or before 31 March 2022.

Under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the group will be required to suspend trading if it fails to publish the results in time.

“Pursuant to Rule 13.50 of the Listing Rules, The Stock Exchange of Hong Kong Limited will normally require suspension of trading in an issuer’s securities if an issuer fails to publish periodic financial information in accordance with the Listing Rules, and the suspension will normally remain in force until the issuer publishes an announcement containing the requisite financial information,” a statement from Macau Legend Development read.

“Accordingly, trading in the shares of the company on the Stock Exchange is currently expected to be suspended with effect from 9:00 a.m. on 1 April 2022 until the publication of the announcement in relation to the 2021 annual results by the company.”

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