annexure a - market misconduct tribunalannexure "a" (page 1 of 57) a1 annexure...

Annexure "A"(Page 1 of 57)

A1

Annexure "A"(Page 2 of 57)

A2

Annexure "A"(Page 3 of 57)

A3

Annexure "A"(Page 4 of 57)

A4

Annexure "A"(Page 5 of 57)

A5

Annexure "A"(Page 6 of 57)

A6

Annexure "A"(Page 7 of 57)

A7

Annexure "A"(Page 8 of 57)

A8

Annexure "A"(Page 9 of 57)

A9

Annexure "A"(Page 10 of 57)

A10

Annexure "A"(Page 11 of 57)

A11

Annexure "A"(Page 12 of 57)

A12

Annexure "A"(Page 13 of 57)

A13

Annexure "A"(Page 14 of 57)

A14

Annexure "A"(Page 15 of 57)

A15

Annexure "A"(Page 16 of 57)

A16

Annexure "A"(Page 17 of 57)

A17

Annexure "A"(Page 18 of 57)

A18

Annexure "A"(Page 19 of 57)

A19

Annexure "A"(Page 20 of 57)

A20

Annexure "A"(Page 21 of 57)

A21

Annexure "A"(Page 22 of 57)

A22

Annexure "A"(Page 23 of 57)

A23

Annexure "A"(Page 24 of 57)

A24

Annexure "A"(Page 25 of 57)

A25

Annexure "A"(Page 26 of 57)

A26

Annexure "A"(Page 27 of 57)

A27

Annexure "A"(Page 28 of 57)

A28

Annexure "A"(Page 29 of 57)

A29

Annexure "A"(Page 30 of 57)

A30

Annexure "A"(Page 31 of 57)

A31

Annexure "A"(Page 32 of 57)

A32

Annexure "A"(Page 33 of 57)

A33

Annexure "A"(Page 34 of 57)

A34

Annexure "A"(Page 35 of 57)

A35

Annexure "A"(Page 36 of 57)

A36

Annexure "A"(Page 37 of 57)

A37

Annexure "A"(Page 38 of 57)

A38

Annexure "A"(Page 39 of 57)

A39

Annexure "A"(Page 40 of 57)

A40

Annexure "A"(Page 41 of 57)

A41

Annexure "A"(Page 42 of 57)

A42

Annexure "A"(Page 43 of 57)

A43

Annexure "A"(Page 44 of 57)

A44

Annexure "A"(Page 45 of 57)

A45

Annexure "A"(Page 46 of 57)

A46

Annexure "A"(Page 47 of 57)

A47

Annexure "A"(Page 48 of 57)

A48

Annexure "A"(Page 49 of 57)

A49

Annexure "A"(Page 50 of 57)

A50

Annexure "A"(Page 51 of 57)

A51

Annexure "A"(Page 52 of 57)

A52

Annexure "A"(Page 53 of 57)

A53

Annexure "A"(Page 54 of 57)

A54

Annexure "A"(Page 55 of 57)

A55

Annexure "A"(Page 56 of 57)

A56

Annexure "A"(Page 57 of 57)

A57

IN THE MATTER OF EVERGRANDE REAL ESTATE GROUP LIMITED

AND ITS LISTED SECURITIES (STOCK CODE: 3333)

NOTICE TO THE MARKET MISCONDUCT TRIBUNAL PURSUANT TO SECTION 252(2) AND SCHEDULE 9 OF THE

SECURITIES AND FUTURES ORDINANCE (CAP. 571) ("ORDINANCE")

Whereas it appears to the Securities and Futures Commission that market misconduct

within the meaning of section 277 of Part XIII of the Ordinance has or may have

taken place in relation to the securities of Evergrande Real Estate Group Limited

(Stock Code: 3333) listed on the Stock Exchange of Hong Kong Limited, the Market

Misconduct Tribunal is hereby required to conduct proceedings and determine:

(a) whether any market misconduct has taken place;

(b) the identity of any person who has engaged in the market misconduct; and

(c) the amount of any profit gained or loss avoided as a result of the market

misconduct.

Person Specified

Andrew Edward Left

(hereinafter called the “Specified Person”)

1. Evergrande Real Estate Group Limited (“Evergrande”) was incorporated in the

1

Annexure "C"(Page 1 of 3)

A67

Cayman Islands on 26 June 2006. It was registered as a non-Hong Kong

company in Hong Kong under Part XI of the Companies Ordinance.

2. On 5 November 2009, its shares were listed on the Stock Exchange of Hong

Kong Limited (“Exchange”) with a stock code of 3333. They remained so

listed on Thursday 21st June 2012.

3. On 21 June 2012, a trading day on the Exchange, at around 10.15 a.m., the

Specified Person disclosed, circulated or disseminated information or authorized

or was concerned in the disclosure, circulation or dissemination of information

pertaining to Evergrande by posting a report on the website of Citron Research

www.citronresearch.com (“Citron Report”).

4. The Citron Report pertained to Evergrande and was negative in the sense that it

stated, inter alia, that the company was insolvent and had consistently presented

fraudulent information to the investing public.

5. The information in the Citron Report (“Information”) was false or misleading

as to a material fact, or was false or misleading through the omission of a

material fact: the company was not insolvent and nor had it consistently

presented fraudulent information to the investing public.

6. The Information was likely to:

(a) induce another person to subscribe for securities, or deal in futures

2

Annexure "C"(Page 2 of 3)

A68

contracts, in Hong Kong; or

(b) induce the sale or purchase in Hong Kong of securities by another

person; or

(c) maintain, increase, reduce or stabilize the price of securities, or the price

for dealings in futures contracts, in Hong Kong.

7. On 21st June 2012, the turnover of Evergrande shares was exceptionally high

and the share price fell significantly.

8. The Specified Person knew that, or was reckless or negligent as to whether, the

Information was false or misleading as to a material fact, or was false or

misleading through the omission of a material fact.

9. By reason of the matters aforesaid, the Specified Person has or may have

contravened section 277(1) of the Ordinance and therefore has or may have

engaged in market misconduct.

Dated this 15th day of December 2014

Securities and Futures Commission

3

Annexure "C"(Page 3 of 3)

A69

Annexure "D"(Page 1 of 5)

A70

Annexure "D"(Page 2 of 5)

A71

Annexure "D"(Page 3 of 5)

A72

Annexure "D"(Page 4 of 5)

A73

Annexure "D"(Page 5 of 5)

A74

Annexure "E"(Page 1 of 8)

A75

Annexure "E"(Page 2 of 8)

A76

Annexure "E"(Page 3 of 8)

A77

Annexure "E"(Page 4 of 8)

A78

Annexure "E"(Page 5 of 8)

A79

Annexure "E"(Page 6 of 8)

A80

Annexure "E"(Page 7 of 8)

A81

Annexure "E"(Page 8 of 8)

A82

Annexure "F"(Page 1 of 7)

A83

Annexure "F"(Page 2 of 7)

A84

Annexure "F"(Page 3 of 7)

A85

Annexure "F"(Page 4 of 7)

A86

Annexure "F"(Page 5 of 7)

A87

Annexure "F"(Page 6 of 7)

A88

Annexure "F"(Page 7 of 7)

A89