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Insider Dealing Tribunal Submits Report in relation to Vanda Systems and Communications Holdings Limited

    The Insider Dealing Tribunal has submitted a report to the Financial Secretary on its inquiry in relation to the listed securities of Vanda Systems and Communications Holdings Limited.

     According to the report, the tribunal, under the Chairmanship of the Honourable Mr Justice McMahon, concluded its findings by unanimous decision that Mr Lam Hon Nam, Ms Silvia Chan Yuk,  Mr Ernest Choy Ming Yan, Ms Becky Chan Lai King, Mr Chris Wong Cheung Hung, Ms Christie Wo Man Shan, Mr Charles Chong Wai Lee, Ms Chong Bun Bun, Ms Debbie Ng Kit Ying, Mr Dennis Li Yat Tung, and Mr Sammy Tse Kwok Fai, had engaged in insider dealing.

     The tribunal will proceed to hear representations on Friday, January 12, 2007, to determine the amount of profit gained and thereafter to make consequential orders and penalties.

     The Vanda inquiry is a complicated case which involves 11 implicated parties and 43 witnesses, with a total of 93 actual hearing days.

     The summary of the tribunal's report is at the Annex.

Ends/Friday, December 8, 2006
Issued at HKT 16:30