Mansion Technology Forms Special Investigation Committee After Independent Directors Resign

Mansion Technology (01632) said its board has resolved to set up a special investigation committee made up of all independent non-executive directors to investigate matters raised in the resignation letters of the then independent non-executive directors, according to ETNet. The committee members are Wu Kwok Choi, Lau Yiu Kit and Lui Fai. It will appoint an independent professional adviser as investigator, report the findings to the board and recommend appropriate actions. The three independent non-executive directors resigned on June 25 over concerns about the recoverability of receivables from a fellow subsidiary and the effectiveness of management measures to control the negative impact of those receivables. The company's shares have been suspended since July 2 pending further notice.