Brightoil Petroleum Holdings Ltd has published an announcement on the cancellation of its listing, as required by the Stock Exchange of Hong Kong.

Along with a summary of events that transpired since trading in Brightoil’s shares were suspended on 3 October 2017, the company also published steps it has taken to satisfy the resumption conditions set by the Listing Review Committee, its response to the listing committee’s decision, as well as the status of its shares.

Brightoil said it submitted to the Listing Review Committee that it “used its best endeavour and had substantially implemented steps to satisfy the resumption conditions and restructure its outstanding liabilities and business operation”.

However, it said its efforts were jeopardised by the COVID-19 outbreak, which halted the completion of audit, prolonged negotiations with creditors and buyers of its assets.

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20th October 2020