Wison announces update on chairman’s legal case

Shanghai: Hong Kong-listed Wison Engineering announced that it has received legal documents from a Chinese court, which states that two charges have been instigated against the company and Hua Bangsong, the legal representative of the company, in relation to certain alleged criminal offences.

Wison Group Holding, one of the controlling shareholders of the company, also understands from the relevant investigation authority that there is no evidence to show Hua Bangsong is connected to Zhou Bin, who is the president of Beijing Zhongxun Energy Technology Co and involved in the PetroChina scandal. 

Wison said Hua is currently being investigated for bribery and both Hua and the company have been charged for a tender-offer fraud. The company is in the process of consulting with legal advisers to respond to these two charges to protect the legitimate rights and interests of the company.

The company said it understood that it could face a fine if convicted of the charges. [17/11/14]
 

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