Mr. Choi Chun Wai, former vice president of Computershare, was convicted of insider dealing for selling ENM shares before the privatisation announcement that failed, resulting in a 10.26% share price drop. He is scheduled for sentencing on 18 December 2025.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On December 04, 2025, Mr. Choi Chun Wai, a former Vice President of Computershare Hong Kong Investor Services Limited (Computershare), was convicted by the Eastern Magistrates' Courts of insider dealing in the shares of ENM Holdings Limited ("ENM") following a prosecution by the Securities and Futures Commission ("SFC"). He pleaded guilty to the charge. The Court remanded him in custody and adjourned the case for sentencing on December 18, 2025.
On June 2, 2023, ENM and Solution Bridge Limited (Offeror) announced a proposed privatization of ENM, contingent on the approval of at least 75% of disinterested shareholders at a court meeting. Computershare was appointed to handle proxy forms and oversee the voting process at the court meeting scheduled for September 26, 2023. Choi, a vice president at Computershare, coordinated the process.
On September 22, 2023, Choi discovered, through the proxy forms, that the voting threshold for the privatization could not be met. Despite knowing that this information was sensitive, Choi sold all of his 1,500,000 ENM shares on September 25, 2023, before ENM announced the failure of the privatization. This action allowed Choi to avoid a potential loss of around $289,500, as ENM’s share price dropped 10.26% to close at $0.35 on September 27, 2023, following the announcement.
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