Chinese cement firm wins injunction against former execs after clashes

HONG KONG, April 13 (Reuters) - China Shanshui Cement Group

Ltd said on Thursday it had obtained a Hong Kong court

injunction against former management after executives were

allegedly attacked with pepper spray and smoke bombs in a bitter

corporate dispute.

The injunction stops former executives from removing assets

worth up to 142 million yuan ($20.61 million) from Hong Kong and

posing as directors or officers of the $2.7 billion company, one

of the biggest cement makers in China.

The dispute underlines the challenges faced by Hong Kong's

stock exchange in improving governance of mainland Chinese

companies, which are prone to feuds and statements that would

raise eyebrows in most other financial centres.

China Shanshui said on Monday that current executives had

been attacked with pepper spray, smoke bombs and water guns and

held for two hours by associates of a former official when they

had tried to retake control of company property in China.

Shanshui said on Thursday that some of its employees had

been detained in China due to alleged criminal conduct, although

it was not clear if the charges related to the clashes at the

company facility in the city of Jinan.

The company said in a filing on Monday that former deputy

general manager Mi Jingtian and his associates had illegally

occupied the Jinan facility.

An employee at the facility told Reuters on Monday that

there had been a confrontation but that Mi had "acted lawfully".

Company representatives were not available to comment and

former executives could not be reached.

The injunction will remain in force until a hearing on April


Shares in Shanshui Cement have been suspended since April

2015 as its public float fell below the 25 percent minimum level

required after Tianrui Group raised its stake to become the

company's biggest shareholder. A Tianrui representative was not

immediately available for comment.

($1 = 6.8890 Chinese yuan renminbi)

(Reporting by Farah Master; Editing by Stephen Coates)