BLUE RIVER HLDG (00498) experienced a sharp decline of 48% in its share price. As of the time of writing, the stock was down 47.86%, trading at HK$0.073, with a turnover of HK$1.0035 million. The significant drop follows the company's announcement that it received a letter from the Stock Exchange on April 24. The notification stated that the group has failed to maintain sufficient business operations and asset value as required under Listing Rule 13.24 to support continued listing. Consequently, the company's shares are set to be suspended from trading starting May 7, pursuant to Listing Rule 6.01(3), unless a review of the decision is applied for. The group indicated that any request for a review must be submitted to the Secretary of the Listing Committee within seven business days from the date of the decision; otherwise, the suspension will proceed on May 7. BLUE RIVER HLDG is currently reviewing the letter and considering the decision. The Board of Directors intends to submit a written application for a review of the decision by the Listing Committee, although it will seek professional advice regarding its review rights.
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