Topic 1: Combating Insider Dealing and Enhancing the Governance of Information Disclosure
Matthew IP, an INED of Manfold, disclosed to his wife about the impending takeover of Manfold by Mitchell & Meyer casually at home.
Matthew's wife contacted her stockbroker to buy Manfold's shares which rose significantly when the takeover bid was formally announced.
Fred WONG sat on the boards of different companies including On Yee Export (Hong Kong) Ltd (On Yee HK). The latter's subsidiary, On Yee (USA) Inc, is the major distributor of Manfold in the USA. Sales to On Yee USA constituted 22% of Manfold's businesses.
Fred heard the rumour that On Yee USA Inc was facing financial difficulties and was on the brink of bankruptcy. It might also file bankruptcy protection under Chapter 11 of the United States Bankruptcy Code in the USA. He told Joseph WAN, Chairman of Manfold, about that.
