The SFC has become increasingly concerned that some listed companies are acquiring or selling assets at improperly assessed prices, resulting in losses to listed companies and their shareholders.
Summary -
The Securities and Futures Commission (SFC) recently issued (a) a guidance note on directors’ duties in the context of valuations in corporate transactions (the Guidance Note); (b) a circular to financial advisers regarding valuations in corporate transactions (the Circular); and (c) a statement on the liability of valuers for disclosure of false or misleading information (the Statement). The key points to note in relation to the abovementioned documents include...
Please see full publication below for more information.