On September 17, 2026, SKYFAME REALTY (00059) announced that it had submitted a resumption proposal to the Stock Exchange seeking to resume trading in its shares.
The resumption proposal sets out, among other things, the measures the company has taken and intends to take to fulfill the resumption guidance. In addition, the company has applied to the Stock Exchange to extend the remedy period to December 31, 2026, so that it can meet the following resumption guidance requirements.
As part of the implementation of the revised restructuring plan, the company has applied to the Hong Kong Court for permission to convene a meeting of its creditors to consider and, if thought fit, approve the plan, and the relevant hearing was held at 10:00 a.m. on September 18, 2026. At the hearing, the Hong Kong Court granted an order approving the company to convene a creditors' scheme meeting for scheme creditors to consider and, if thought fit, approve the plan (with or without modification). The scheme meeting is tentatively scheduled to be held in late October or early November 2026, while the Hong Kong Court's sanction hearing for the plan is tentatively scheduled for November 20, 2026.
As disclosed in the company's announcement dated January 9, 2026, the Stock Exchange has set the following resumption guidance for the company: (i) the winding-up order against the company has been withdrawn or dismissed, and the appointment of any liquidator has been released; (ii) publication of all outstanding financial results in accordance with the Listing Rules and resolution of any audit modifications; (iii) demonstration that the company complies with Rule 13.24 of the Listing Rules; (iv) informing the market of all material information for the company's shareholders and other investors to assess the company's position; and (v) regaining compliance with Rules 3.10(1), 3.10(2), 3.10A, 3.21, 3.25, 3.27A, 3.28 and 13.92 of the Listing Rules.
On September 30, 2026, the company received a winding-up petition (the Petition) filed by Mr. Li Pak-ho (the Petitioner) with the Hong Kong Court against the company. The Petition relates to an alleged unpaid amount totaling HK$10.4692 million owed by the company. The debt is based on the Petitioner's claim that the company failed to pay the Petitioner a judgment debt of HK$10 million, together with related interest and costs, pursuant to a final judgment made by the Hong Kong Court on March 11, 2026, and a statutory demand served by the Petitioner's legal representative on August 10, 2026. The Petition will be heard at 9:30 a.m. on December 9, 2026, at the Hong Kong Court.
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