Golik : Announcement made pursuant to Rules 13.51(2)(s) and 13.51B(2) of the Listing Rules

About this update from Golik Holdings Limited

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. ANNOUNCEMENT MADE PURSUANT TO RULES 13.51(2)(s) AND 13.51B(2) OF THE LISTING RULES This announcement is made by Golik Holdings Limited (the "Company") pursuant to Rules 13.51(2)(s) and 13.51B(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The board of directors (the "Board") of the Company has been recently informed by Mr. Lo Yip Tong ("Mr. Lo"), an Independent Non-executive Director, that his name be removed from the register of certified public accountants by the order of the Disciplinary Committee ("Disciplinary Committee") of the Hong Kong Institute of Certified Public Accountants ("HKICPA") for one year with effect from 5 October 2020 and was ordered to pay costs of disciplinary proceedings of HK$64,012. Mr. Lo was a Member of the HKICPA and the sole proprietor of Y.T. Lo & Co. ("YTLC"), YTLC was subject to a follow-up practice review in May 2018. As a result of Mr. Lo's failure to cooperate, the follow-up practice review could not be conducted. The Disciplinary Committee found that Mr. Lo failed or neglected, without reasonable excuse, to comply with a direction issued by the Practice Review Committee of the HKICPA under section 32F(2)(b) of the Professional Accountants Ordinance (Cap. 50) ("PAO"). In addition, the Disciplinary Committee found that Mr. Lo was in breach of the fundamental principle of integrity in sections 100.5(a) and 110 of the Code of Ethics for Professional Accountants. Having taken into account the circumstances of the case, the Disciplinary Committee made the above order against Mr. Lo under section 35(1) of the PAO. The Board believes that Mr. Lo with his extensive experience in statistical, accounting, auditing and financial restructuring work could benefit the function for risk management and internal control system of the Company and its subsidiaries (the "Group"). Further, the above disciplinary order against Mr. Lo does not involve any member operations of the Group and Mr. Lo has no role in the day-to-day o...

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