Core Viewpoint - Raffles Interior Limited's board has received a formal complaint against its director and controlling shareholder, Zheng Nenghuan, alleging market manipulation and unauthorized actions related to a significant transaction and stock trading suspension [1][2]. Group 1: Allegations and Complaints - The complaint alleges that Zheng Nenghuan pledged his 51% stake in the company through Hancheng Holdings Limited as collateral to Jiekou Securities [1]. - Jiekou Securities issued a margin call to Zheng Nenghuan on November 3, 2025, demanding full repayment by noon on November 4, 2025, or face forced liquidation of the pledged shares [1]. - The complaint claims that Zheng Nenghuan, fearing the margin call, entered into a contract to acquire a land parcel for HKD 300 million with his spouse without board authorization [1]. - It is also alleged that Zheng Nenghuan instructed his private lawyer to apply for a trading suspension of the company's shares without board authorization [1]. Group 2: Board's Response and Investigation - The board immediately contacted Zheng Nenghuan for clarification regarding the allegations and confirmed that he received the margin call notice on November 3, 2025 [2]. - Zheng Nenghuan stated that the margin call notice was unrelated to the signing of the acquisition agreement and the need for an urgent trading suspension [2]. - The board noted the close timing of Zheng Nenghuan's actions and emphasized that these were executed without prior consultation with other board members [2]. - An independent investigation committee was established on December 10, 2025, to address the issues raised in the complaint, with the board's approval on December 15, 2025 [2]. Group 3: Investigation Progress - As of now, Zheng Nenghuan has not been cooperative with the independent investigation committee and has failed to provide necessary documentation for a thorough review [3]. - The independent committee will continue its investigation with the assistance of external legal advisors and will report findings to the board at an appropriate time [3].
RAFFLESINTERIOR：接获投诉 公司董事及控股股东郑能欢涉嫌市场操纵及未经授权行为