Brief: Shanghai Zendai Property Says Co Reached Agreement To Settle Disputes

DevGreat

06/09/2018 10:50

Sept 6 (Reuters) - Shanghai Zendai Property Ltd  0755.HK :
    * REACHED AGREEMENT TO SETTLE DISPUTES SUBJECT TO
ARBITRATION
PROCEEDING AT SHANGHAI ARBITRATION COMMISSION
    * UPON IMPLEMENTATION OF SETTLEMENT AGREEMENT, SHANGHAI
ZENDAI
LAND WILL INCUR A FINANCIAL LOSS OF ABOUT RMB100 MILLION
    * PARTIES AGREED TO OFFSET CLAIMS SUCH THAT NO PARTY IS
OBLIGED TO
MAKE ANY FUTURE PAYMENT TO ANY OTHER PARTY UNDER AGREEMENT

Source :(https://bit.ly/2M1Ezus)
Further company coverage:  0755.HK 

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