The Hong Kong Securities and Futures Commission announced that the Eastern Magistrates’ Courts convicted Mr Choi Chun Wai, a former vice president of Computershare Hong Kong Investor Services Limited, of insider dealing in ENM Holdings Limited shares following an SFC criminal prosecution. Choi pleaded guilty, was remanded in custody, and the case was adjourned for sentencing. The offence arose from a proposed privatisation of ENM announced on 2 June 2023, which required approval of not less than 75% of the voting rights of disinterested shareholders at a court meeting scheduled for 26 September 2023, with Computershare engaged to handle proxy forms and act as scrutineer. The court heard that Choi, who was coordinating and monitoring the voting process, learned on 22 September 2023 from the proxy forms that the voting threshold could not be met and then sold all his 1,500,000 ENM shares on 25 September 2023 before the lapse of the privatisation was announced; ENM’s share price fell 10.26% to close at HKD 0.35 on 27 September 2023, enabling him to avoid an estimated loss of about HKD 289,500. Sentencing is scheduled for 18 December 2025.
Hong Kong Securities & Futures Commission 2025-12-04
Hong Kong Securities and Futures Commission secures insider dealing conviction of former Computershare vice president over ENM Holdings shares
The Hong Kong Securities and Futures Commission announced the conviction of Mr. Choi Chun Wai, a former vice president of Computershare Hong Kong Investor Services Limited, for insider dealing in ENM Holdings Limited shares. Choi pleaded guilty after selling his shares before a failed privatisation announcement, avoiding an estimated loss of HKD 289,500. Sentencing is set for 18 December 2025.