Brief: CWT International Updates On Enforcement Actions Resulting From Loan Default
06/06/2019 24:37
June 6 (Reuters) - CWT International Ltd 0521.HK :
* UPDATES ON ENFORCEMENT ACTIONS RESULTING FROM LOAN DEFAULT
* LENDERS HAVE TAKEN POSSESSION OF CHARGED ASSETS WHICH
RESULTED
IN CONSIDERABLE IMPACT TO GROUP'S OPERATIONS
* DIRECTORS ARE UNDERTAKING A DEBT RESTRUCTURING PLAN SO
THAT
GROUP WILL BE ABLE TO CONTINUE AS A GOING CONCERN
* LENDERS DEMAND IMMEDIATE PAYMENT OF OUTSTANDING PRINCIPAL,
INTEREST & FEES UNDER FACILITY AGREEMENT OF NOT LESS THAN
HK$1.46 BILLION
Source text for Eikon: ID:nHKS3jytrF
Further company coverage: 0521.HK
((Reuters.Briefs@thomsonreuters.com;))
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