HKG:0556

Pan Asia Environmental Protection Drops Proposed Name Change; Shares Slip 5%

Pan Asia Environmental Protection Group (HKG:0556) will not proceed with its proposed change of company name and will not convene the extraordinary general meeting previously planned to approve the change, according to a Sept. 11 Hong Kong bourse filing.Separately, the company disposed of its 51% equity interest in Xilailu Brand Management (Guangzhou), with the target's financial results not consolidated into the group's financial statements.Pan Asia said the disposal has no material impact on the group's overall business operations.Shares of the firm were down over 5% in Monday morning trade.