TWSE Press Release
TWSE issued an official letter ordering to delist TransAsia Airways Corporation's securities from February 2, 2017.
Publish Date︰2017/01/06 16:37
Previously, the Board of TransAsia Airways Corporation resolved to dissolute the company and the payment notes issued by the company were rejected due to insufficient deposit. The TWSE had announced it was placing the listed securities under an altered trading method and imposed the periodic call auction method. Afterwards, on December 16, 2016, Taiwan Clearing House announced that the refusal to transact is not yet relieved. In accordance with subparagraph 8, paragraph 1, Article 50-1 of the Operating Rules of the Taiwan Stock Exchange Corporation, specifying that “the record of refusal of financial institutions to transact” constitutes a cause to delist the company’s securities, the TWSE thereby issued an official letter ordering to delist the company’s securities from February 2, 2017.
Pursuant to paragraph 2, Article 50-1 of the Rules, in the event that a company's securities have been delisted by TWSE announcement, but noy yet implemented the delisting of the securities,the company may, no later than the 8th business day (which is, in this case, 00:00AM January 17, 2017) prior to the implementation date , petition the TWSE for an exemption from such order upon relevant evidence proving that the refusal of financial institution to transact has been relieved by repayments, provisions, or reversals, and no circumstance set out in paragraph 1, Article 50-1 of the Rules exits.