Brief: Jinhui Shipping and Transportation: Termination Of Agreement

Jinhui Shipping and Transportation

04/06/2019 10:07

June 4 (Reuters) - Jinhui Shipping and Transportation Ltd
 JINS.OL :
    * TERMINATION OF AGREEMENT
    * AS ONE OF CLAUSES WITH REGARDS TO A TIMELY DELIVERY OF
SECOND
AGREEMENT CANNOT BE FULFILLED BY SECOND VENDOR
    * INITIAL DEPOSIT OF US$625,000 LODGED WITH ESCROW AGENT HAS
BEEN
REFUNDED TO JINHAN MARINE INC.
    * ACQUISITION OF SECOND VESSEL ACCORDING TO SECOND AGREEMENT
WAS
TERMINATED
    * DIRECTORS CONSIDER THAT TERMINATION OF ACQUISITION OF
SECOND
VESSEL WOULD NOT HAVE ANY MATERIAL ADVERSE EFFECT ON FINANCIAL
POSITION AND OPERATIONS OF GROUP

Source text for Eikon:  ID:nObiBtcCda 
Further company coverage:  JINS.OL 

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