TATAHEALTH (01255.HK): Former Independent Non-Executive Director Files Winding-Up Petition over HKD 139,150.68 Unpaid Director Remuneration, Hearing Set for 21 October
NewTimeSpace News: On 17 August 2026, TATA Health International Holdings Limited (stock code: 01255) issued an inside information announcement. On 11 August 2026, the company learned that Mr. Tao Zhiqiang, a former independent non-executive director (the Petitioner), had filed a petition against the company with the High Court of the Hong Kong Special Administrative Region on the same day, seeking an order for the winding-up of the company. The petition was filed in respect of the company's failure to pay outstanding director remuneration of HKD 139,150.68 (the Claim).
The Petitioner was appointed as an independent non-executive director of the company on 20 October 2023 and resigned on 13 June 2025; his term of appointment predated the appointment of the company's current board. The current board has no knowledge of the Petitioner and has not previously worked with him. The board is currently assessing the Petitioner's performance during his tenure as an independent non-executive director and the remuneration payable to him. Given the small amount of the Claim, the board believes the matter can be resolved and that the winding-up order will not be granted; in any event, the company is seeking legal advice on the petition and will take all necessary measures to protect its lawful rights.
Under section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32 of the Laws of Hong Kong), if the company is ultimately wound up as a result of the petition, any disposition of property of the company directly owned by it (including choses in action) after the commencement of the winding-up (being the date of the petition, 11 August 2026, the Commencement Date), and any transfer of shares or alteration in the status of members, will be void unless the High Court grants a validation order. HKSCC may also exercise its powers under the General Rules of the Central Clearing and Settlement System to temporarily suspend, without notice, its services to participants effecting share transfers of the company's shares through HKSCC. In general, the above measures will cease to apply on the date the petition is dismissed or permanently stayed, or when the company obtains the required validation order from the High Court.
The filing of the petition does not mean the Petitioner can successfully wind up the company. As of the date of this announcement, no winding-up order has been made by the High Court. The High Court will hear the petition at 10:00 a.m. on Wednesday, 21 October 2026. The company will update its shareholders and investors on any material developments in relation to the petition in due course.
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