SOURCE: Real Nutriceutical Group Limited

Real Nutriceutical Group Limited

December 27, 2015 21:55 ET

Real Nutri Condemns a Short-Selling Institution's Misleading Statement and Malicious and False Allegations Against the Company and Reserves the Right to Take Legal Actions

Chairman And Senior Management Are Confident About the Business and Future Developments of Real Nutri

HONG KONG, CHINA--(Marketwired - Dec 27, 2015) - Real Nutriceutical Group Limited ("Real Nutri"; stock code: 2010) issues an announcement in relation to a recent report (the "Report") from a short selling institution Glaucus Research. The Company reserves its right to take legal actions for damages or other relief against such entity and/or associated individual(s) and anyone responsible for disseminating misleading and malicious statements designated to manipulate the price of the Company's shares for their gains.

The announcement is published by the Company on the Stock Exchange on 24 December 2015 to refute and/or to clarify the negative commentaries made by the Report. For more details, please visit http://www.hkexnews.hk/listedco/listconews/SEHK/2015/1224/LTN20151224752.pdf .

The Company reiterates that the allegations in the Report are groundless and contains misrepresentations, malicious and false allegations and obvious factual errors. The Company believes that it is likely that a repeated theme and methodology used in the Report is to pre-determine certain false findings and then selectively mix up inaccurate data with selected unverified information to corroborate such false findings. The Company reserves its right to take legal actions against such entity and/or associated individual(s).

To safeguard the interests of all shareholders of the Company, Chairman & CEO Dr. Wang Fucai, is considering to increase his shareholding in the Company through on-market purchase(s) to stabilise and reflect the true value of the share price of the Company.

In addition, the board of directors and the audit committee of the Company decide that the Company shall voluntarily engage an independent professional Big Four accounting firm to conduct an independent review on all the allegations and the Group's rebuttal of the allegations mentioned in the Report, in order to further enhance public confidence.

Dr. Wang Fucai, Chairman and CEO of the Group, said, "Real Nutri has always complied with the listing rules of the Hong Kong Stock Exchange since it went public in 2010. We strive to maintain a high degree of transparency and information disclosure and communicate regularly with shareholders, investors and media so as to enhance the corporate image and investor relations. On behalf of the board of directors, I express my deep regret and indignation about the recent report by Glaucus Research which contains false, groundless and biased content. We reserve the right to take legal action because the Report has damaged the Group's corporate image and its shareholders' interest.

"Real Nutri is a leading brand in China's market for amino acids and health supplements and has been producing and selling well-received products that have contributed to an encouraging growth in sales for many years. The Group has a sound business development and healthy financial position, with its capital and operation in normal conditions. All board members and I are confident about the future development of Real Nutri, aiming to establish an influential heath care business and generate higher returns to shareholders," Chairman Wang said.

The Company has applied to the Stock Exchange for resumption of trading in its shares on the Stock Exchange with effect from 9 a.m. on 28 December 2015.

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Contact Information

  • Media Contact:
    Real Nutriceutical Group Limited
    Tel: +852 2388 5595