Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
BRIGHT SMART SECURITIES & COMMODITIES GROUP LIMITED
(Incorporated in the Cayman Islands with limited
liability)
(Stock Code: 1428)
VOLUNTARY ANNOUNCEMENT
This announcement is published on a voluntary basis by the
board of directors (the "Board")
of Bright Smart Securities & Commodities Group Limited (the
"Company").
The Board has noted a newspaper article published in Hong
Kong Economic Times on 8 November 2011, which reported the
possible impact of the winding up of MF Global Hong Kong
Limited ("MFGHK"), a United States futures broker, on the
Company and its subsidiaries (the "Group"). The Board wishes
to publish this announcement on a voluntary basis to provide
the shareholders and the public with further information in
relation to this matter.
As at the date of this announcement, all outstanding futures
and options positions that the Group had with MFGHK had been
closed although MFGHK is still owing Bright Smart Futures &
Commodities Company Limited (a wholly-owned subsidiary of the
Company) approximately US$500,000, which represents the cash
deposit paid by Bright Smart Futures
& Commodities Company Limited to MFGHK. Given that the amount
owing by MFGHK is not substantial, the Board does not
consider that the winding up of MFGHK would have any material
impact on the clients, the operations or financial position
of the Group.
The Company will closely monitor the development of this
matter and will take appropriate
legal actions to recover the debt and to protect the
interests of the shareholders of the Company. The Company
will make further announcement(s) if there is any material
development on this matter or if required by the Rules
Governing the Listing of Securities on The Stock Exchange of
Hong Kong Limited.
By order of the Board
Bright Smart Securities & Commodities Group Limited Chan Kai
Fung
CEO and Executive Director
Hong Kong, 8 November 2011
As at the date of this announcement, the executive directors
of the Company are Mr. Yip Mow Lum (Chairman), Mr. Chan Kai
Fung (CEO), Mr. Kwok Sze Chi and Mr. Chan Wing Shing, Wilson;
and the independent non-executive directors of the Company
are Mr. Yu Yun Kong, Mr. Szeto Wai Sun and Mr. Ling Kwok Fai,
Joseph.