Brief: Glory Sun Land Says In March Co Received Notice From A Creditor Bank

Glory Sun Land

17/03/2023 11:07

March 17 (Reuters) - Glory Sun Land Group Ltd  0299.HK :
    * IN MARCH CO RECEIVED A NOTICE FROM A CREDITOR BANK
    * IN NOTICE, ALLEGED SHENZHEN JITONG DEFAULTED ON
OBLIGATIONS DUE
TO FAILURE TO MAKE TIMELY REPAYMENT UNDER FACILITY
    * CONTINUOUSLY ASSESSING LEGAL, FINANCIAL AND OPERATIONAL
IMPACT
OF NOTICE UPON GROUP
    * CURRENTLY IN NEGOTIATION WITH CREDITOR EXPLORING DIFFERENT
PROPOSALS OF REPAYMENT
    * NOTICE RELATES TO LOAN FACILITY GRANTED WITH OUTSTANDING
PRINCIPAL AMOUNT OF RMB1.20 BILLION
    * NO COURT PROCEEDING HAS BEEN COMMENCED BY CREDITOR AGAINST
SHENZHEN JITONG OR COMPANY AS OF 17 MARCH

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