Brief: Kingboard Says Traget Co Failed To Repay In Accordance With Facility Agreement

Kingboard Holdings

10/10/2023 11:36

Oct 10 (Reuters) - Kingboard Holdings Ltd  0148.HK :
    * TRAGET CO FAILED TO REPAY IN ACCORDANCE WITH FACILITY
AGREEMENT
WITH OUTSTANDING PRINCIPAL AMOUNT OF HK$1.60 BILLION
    * MAY RECORD IMPAIRMENT LOSS AND HENCE AN IMPACT ON PROFITS
AND
LOSS ACCOUNT OF CO FOR YEAR
    * LENDER ISSUED STATUTORY DEMAND TO TARGET CO TO DEMAND FOR
REPAYMENT OF CERTAIN SUMS DUE AND PAYABLE
    * ACTION FOR RECOVERY OF OUTSTANDING SUMS UNDER FACILITY
AGREEMENT
IS IN PROGRESS
    * CO IS ASSESSING IMPLICATION OF AFORESAID ON GROUP
    * CO DOES NOT CONSIDER THAT AFORESAID WOULD GIVE RISE TO ANY
MATERIAL ADVERSE IMPACT ON ORDINARY COURSE OF BUSINESS


Further company coverage:  0148.HK 

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