The Stock Exchange of Hong Kong took disciplinary action against four executive directors of China General Education Group (HKG:2175) on Thursday, a same-day filing with the Hong Kong Exchange said.
The relevant directors include former chairman Niu Sanping, former CEO Niu Jian, and executive directors Niu Xiaojun and Zhang Zhonghua.
Niu Sanping and Niu Jian both resigned from the board with effect from May 27, along with providing certain additional undertakings, while the exchange instructed Niu Xiaojun and Zhang Zhonghua to do 15 hours of training on regulatory and legal topics and Listing Rule compliance.
The action was taken following problematic transactions around the time of the company's listing on the exchange. The transactions include loans and fund subscriptions totaling up to HK$125 million.
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