KVB Holdings pushes for winding up of Forex broker CLSA Premium
Hong Kong-focused Forex broker CLSA Premium Ltd (HKG:6877) is once again facing a push got its winding up. The broker announces the receipt of a requisition for an extraordinary general meeting.
The requisition comes from a shareholder, KVB Holdings Limited, which proposes winding up CLSA Premium. KVB is the registered holder of 300,000,000 Shares.
According to the Articles, passing of the special resolution requires a majority of not less than three‐fourths (3/4) of votes cast by the members of the Company at a general meeting.
Last week, the Board of Directors of CLSA Premium announced its decision to suspend the operation of CLSAP NZ, its New Zealand subsidiary, and change it to a dormant company until further notice. The broker also noted the disengagement of the company’s PRC domestic clients and the imposition of additional license conditions and the litigation against CLSAP NZ.
And, earlier in January 2021, CLSA Premium issued a profit warning. The Group is expected to record a net loss approximately HK$57 million for the year ended 31 December 2021 (FY2021), as compared with the audited net loss of HK$72 million for the year ended 31 December 2020.
Let’s note that this is not the first time CLSA Premium faces calls for its winding up. The broker has survived all such votes.