Brief: China Maple Leaf Educational Systems Updates About Compliance With Certain Conditions Of Bonds

China Maple Leaf Educational Systems

14/04/2023 16:12

April 14 (Reuters) - China Maple Leaf Educational
Systems Ltd  1317.HK :
    * UPDATES IN RELATION TO COMPLIANCE WITH CERTAIN CONDITIONS
OF
BONDS
    * RELEVANT EVENT SHALL OCCUR IF CO'S SHARES CONTINUE TO
REMAIN
SUSPENDED FROM TRADING ON 17 APRIL
    * TRADING IN CO'S SHARES ON STOCK EXCHANGE IS EXPECTED TO
REMAIN
SUSPENDED ON 17 APRIL
    * ON 27 JUNE CO IS REQUIRED TO REDEEM 25% U.S.$31.3 MILLION
BONDS
    * WILL NOT HAVE SUFFICIENT OFFSHORE FUNDS TO MAKE SECOND
MANDATORY
REDEMPTION ON 27 JUNE
    * TO ENGAGE WITH AD HOC GROUP OF BONDHOLDERS TO FACILITATE
DISCUSSIONS REGARDING FEASIBLE PROPOSALS ABOUT BONDS
    * WILL NOT HAVE SUFFICIENT OFFSHORE FUNDS FOR 2ND MANDATORY
REDEMPTION RESULTING IN OCCURRENCE OF EVENT OF DEFAULT

Source text for Eikon:  ID:nHKS8tbQb3 
Further company coverage:  1317.HK 

 ((Reuters.Briefs@thomsonreuters.com;))