TORONTO, Dec. 19, 2018 /CNW/ - Sunwah International Limited,TSX: SWH (the "Company"), a Hong Kong based investment firm and a member of major Asian conglomerate, Sunwah Group, announces that the Toronto Stock Exchange (the "TSX") has extended by 30 days the period to review the continued listing of the Company's common shares on the TSX.
The Company, which was initially notified of the TSX's review in July 2018, has submitted its current business plan to the TSX. The business plan reflects the Company's new tri-divisional structure, comprised of: (1) Financial Services, consisting of the Company's continued equity interest in Sunwah Kingsway Capital Holdings Limited, one of Hong Kong's leading middle tier financial services providers, (2) Technology Products and Services, which involves the sale of software products and the provision of related maintenance services by non-wholly owned subsidiaries, and (3) Strategic Investments and other activities. The Company plans to provide the TSX within the 30-day period with updated information on the market value of its public float and information confirming continued compliance with the financial continued listing criteria of the TSX.
There can be no assurance that the Company will meet the continued listing requirements of the TSX.
About Sunwah International Limited
Based in Hong Kong, Sunwah International Limited is an investment firm and a member of Sunwah Group, one of Asia's most prominent multi-national conglomerates. The Company's current primary investment interest, Hong Kong based Sunwah Kingsway Capital Holdings Limited, is listed on the Stock Exchange of Hong Kong under the stock code 00188. Sunwah Kingsway is licensed to provide a range of financial solutions in Hong Kong and abroad that include award-winning brokerage services and innovative corporate finance offerings.
This press release contains certain statements that constitute "forward‑looking information" and "forward looking statements" (collectively "forward looking information") under applicable securities laws. Such statements, other than statements of historical fact, are predictive in nature or depend on future events or conditions. Forward looking information involves estimates, assumptions, judgments and uncertainties. These statements may be identified by the use of forward‑looking terminology such as "may", "will", "should", "anticipate", "expect", "believe", "predict", "estimate", "continue", "intend", "plan" and variations of these words or other similar expressions. Specifically, this press release includes forward looking information in respect of the actions to be taken in respect of the TSX's continued listing review of the Company's shares and the timing and outcome thereof. Forward-looking information reflects management's current beliefs and is based on information currently available to management. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking information. Forward-looking information is provided as of the date of this press release, and except as required by applicable law, the Company assumes no obligation to update or revise such information, whether as a result of new information, future events or otherwise.
SOURCE Sunwah International Limited
For further information: Kristen Humphrey, Sunwah International Limited, (416) 888-2323, [email protected]