Brief: Greater China Financial updates on legal actions taken against Shanghai Kuailu

Greater China Financial Holdings

23/02/2017 11:24

Feb 23 (Reuters) - Greater China Financial  0431.HK  
    * Legal Actions Taken Against Shanghai Kuailu 
    * Legal advisers of company in PRC received three decisions 
issued by Shanghai arbitration commission 
    * According to decisions, SAC was notified xinsheng, 
Shanghai Kuailu and Zhongyuan are involved in criminal 
investigation 
    * Notified that shares of Xinsheng and Zhongyuan were 
freezed by PRC Public Security Authority 
    * Decisions to suspend three arbitration claims initiated by 
Yousheng and Shanghai Junning against Xinsheng, Shanghai Kuailu 
and Zhongyuan 
    * Board considers that suspension of arbitration claims 
shall not create adverse impact to co and its subsidiaries 
    * Notified SAC agreed to suspend arbitration claims with 
effect from 21 February 2017 
 
Source text for Eikon:  ID:nHKS869gkw  
Further company coverage:  0431.HK  
 
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