【英语财经】福建明伟鞋服在伦敦二板市场被停牌 Camkids suspends Aim shares after London adviser quits

Shares in Camkids, the Aim-quoted Chinese children’s clothing company, were suspended yesterday after the company’s nominated adviser in London resigned abruptly saying it would no longer act for the company.

Two directors simultaneously resigned from the board over plans to hand most of the company’s cash to three distributors.

This summer the company announced that it would cancel three distribution deals because of difficult trading conditions. It added that it intended to buy back inventory worth about ￡28.5m, or Rmb285m, from the distributors to sell it on at a discount. The deal would use up almost all of Camkids’ cash, estimated to be worth about 57p a share.

Camkids is the latest of about a dozen Chinese-controlled companies to be suspended or delisted from London’s junior equity market in the past year as concerns have escalated over governance and management of cash.

It is the third of four Aim companies hailing from Fujian province to see its shares suspended since January.

Shares in Naibu Global

were delisted in July, three months after its UK-based non-executives began legal action to regain control of the sportswear company’s operations and bank accounts.

In February, the group’s board admitted that it could not contact the company’s Chinese executive management including chairman Huoyan Lin, who owns 53 per cent of the company. The shares, which were valued at ￡88m when they listed in April 2012, had fallen 90 per cent by February.

Earlier this month, shares in China Chaintek

, another Fujian-based business, were suspended after its adviser, known as a nomad, quit. The group, which provides logistics services to local manufacturers, has a month under Aim rules to find a replacement adviser. If it cannot, its shares will be delisted.

Camkids, led by executive chairman Zhang Congmingwho owns 67 per cent of the shares, joined Aim on Christmas Eve 2012, having been offered local tax breaks for listing overseas. Its shares have since fallen from 88p to near 3p.

Yesterday, Ng Pei Eng, the finance director, and Jacques-Franck Dossin, a non-executive director, stepped down over the plan to buy back inventory from the distributors, and Allenby quit as the company’s adviser and representative to Aim’s regulator.

A few weeks before, Richard Sweet and Mircle Yap, two non-executive directors, had resigned from the board over a dispute about the company’s investor strategy and dividend policy. The board now has just two directors, both executives in China.

在伦敦另类投资市场（AIM，又称“二板市场”）上市的中国童鞋企业明伟鞋服(Camkids)昨日被停牌，此前该公司在伦敦的保荐人突然辞职、表示不再代表该公司。

明伟鞋服两位董事同时从董事会辞职，原因是该公司计划将大部分现金转移给三家分销商。

今年夏天明伟鞋服宣布，由于交易条件困难，该公司将取消三笔分销协议，还表示打算从分销商处回购价值约2850万英镑（约合2.85亿元人民币）的存货，然后打折出售。这笔交易将用尽明伟鞋服的几乎所有现金，据估计这些现金合每股57便士。

过去一年伦敦二板市场有十几家中国控股公司被停牌或摘牌，原因是公司治理和现金管理状况日益令人担忧，明伟鞋服是最新停牌的一家。

伦敦二板市场有四家公司来自中国福建省，自今年1月以来已有两家停牌，明伟鞋服是第三家。

今年7月运动鞋服企业奈步(Naibu Global)被摘牌，在这三个月前，奈步驻英国非执行高管发起法律行动，以重获对公司的经营及银行账户的控制权。

今年2月，奈步集团董事会承认无法联系到该公司的中国执行管理团队，其中包括董事长林火炎，他拥有该公司53%的股份。奈步于2012年4月上市，当时市值8800万英镑，至今年2月已跌去90%。

本月早些时候，同样位于福建的骏泰联合有限公司(China Chaintek)在指定保荐人辞职后股票被停牌。骏泰联合有限公司为当地制造商提供物流服务，根据伦敦二板市场规则，该集团需在一个月内找到替代的保荐人，否则其股票将被摘牌。

明伟鞋服于2012年平安夜登陆伦敦二板市场，董事长张聪明拥有公司67%的股份，该公司因在海外上市而在当地享受税收优惠。其股价已从上市时的每股88便士，下跌到接近每股3便士。

昨天明伟鞋服财务总监Ng Pei Eng和非执行董事雅克—弗兰克?多斯因(Jacques-Franck Dossin)宣布辞职，原因是该公司计划从分销商处回购存货。同时Allenby辞去该公司保荐人身份，并不再担任该公司负责与伦敦二板市场监管机构接触的代表。

几周前，明伟鞋服两名非执行董事理查德?斯威特(Richard Sweet)和Mircle Yap从董事会辞职，原因是对公司的投资者战略和股息政策有异议。明伟鞋服董事会现在只剩两名执行董事，两人都在中国。

译者/彩云