Brief: China Oceanwide Says On 14 Feb, Received Notice From OCM Harbour Investments Certain Events Of Defaults Occurred Unter Facility Deal Dated 23 Sept 2019

China Oceanwide Holdings

15/02/2022 15:29

Feb 15 (Reuters) - China Oceanwide Holdings Ltd  0715.HK :
    * ON 14 FEB, RECEIVED NOTICE FROM OCM HARBOUR INVESTMENTS
CERTAIN
EVENTS OF DEFAULTS OCCURRED UNTER FACILITY DEAL DATED 23 SEPT
2019
    * RECEIVED NOTICE THAT CHINA OCEANWIDE PROPERTY HOLDINGS
FAILED TO
PAY ALL AMOUNTS DEMANDED UNDER ACCELERATION NOTICE
    * AS AT DATE OF ACCELERATION NOTICE, AGGREGATE AMOUNT
CLAIMED BY
OCM HARBOUR INVESTMENTS IN ACCELERATION NOTICE WAS $159.3
MILLION
    * IS CURRENTLY NEGOTIATING WITH OCM HARBOUR INVESTMENTS FOR
AN
UPDATED REPAYMENT PLAN & EXPLORING TO SATISFY OCM CLAIM
    * ASSESSING LEGAL, FINANCIAL & OPERATIONAL IMPACTS OF
ACTIONS TO
BE TAKEN BY OCM HARBOUR INVESTMENTS AS STATED IN NOTICE

Source text for Eikon:  ID:nHKS5zyg3J 
Further company coverage:  0715.HK 

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