Anwell

Anwell: update on trading suspension implemented since 14 Aug. Recall, the focus of the investigation pertains to certain capital injections between the subsidiaries of the group. This appears to be linked to an Rmb700m capital injection received by one of Anwell’s subsidiaries from the Municipal Government of Dongguan back in Aug ’11. The funds were meant for the development of Anwell’s second thin film solar panel manufacturing base in Dongguan. The company executives, who were previously under residential surveillance, have now been transferred to a detention centre in Dongguan to facilitate the on-going investigation. Under PRC laws, the executives may be detained for up to 37 days, and thereafter, may be formally arrested and charged or released without charges or be granted bail if necessary.