In a statement to the Hong Kong stock exchange yesterday, the company announced the resignation of all board members and demanded that the company’s assets be disposed of so that the newspaper employees could be paid.
“So the company no longer has to legally pay Apple Daily employees, including reporters,” the statement said.
In the notice, it asked the Hong Kong government to allow people who bought the company’s disposed assets to pay off loan debts and employee receivables.
The editor and four executives of the Apple Daily newspaper, known for its pro-Western publications, were detained on charges of “collecting collusion with foreign powers” in the investigation conducted under the National Security Law, which came into force in 2020.
Within the scope of the investigation, the assets of three companies affiliated with the newspaper, worth 18 million Hong Kong dollars (US$ 2.3 million), were suspended, and the shares of the parent company, Next Digital, were stopped from being traded on the stock exchange.
All four remaining company directors of Next Digital, the corporation that owned Hong Kong’s now defunct pro-democracy newspaper Apple Daily, have resigned. There is a risk that Next Digital will now be forcibly delisted from the stock market in the city.
The newspaper had to end its publication life by making its last edition on 24 June due to the measure imposed on its assets.