Retailer beached listing rules

Up-market retailer Dickson Concepts was in breach of the listing rules by conducting transactions with four companies connected to chairman Dickson Poon and two former non-executive directors, the stock exchange has ruled. The transactions involved sale and purchase of merchandise, the provision of management and supporting services, the licensing and leasing of properties and royalty payments. Although the transactions conferred no undue gains, the stock exchange ruled they still breached its rules and reserved the right to take appropriate action.