Brief: Wealth Glory updates on settlement agreement with the vendor

Go Up Education Technology

07/04/2016 13:11

April 7 (Reuters) - Wealth Glory Holdings Ltd  8269.HK : 
 * Company has reached a settlement agreement with the vendor 
 * Says vendor shall pay to the company a sum of hk$5 million 
 * Conditional upon receipt of full payment of settlement sum, co shall dismiss or withdraw legal proceedings against vendor 
 * Board is of the view that settlement is commercially viable way to resolve matter, is in interest of co as a whole 
 * Refers to possible acquisition of entire equity interest in southernpec Singapore storage and logistics limited 
 * Settlement can avoid further time, costs and expenses to be incurred by co, as well as provides certainty in terms of outcome 
 * Source text (http://bit.ly/1Xjbj2v) 
 
 
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