Brief: Labixiaoxin Snacks announces non-repayment of entrusted loan granted to Quanzhou Jiu Xin Electronic Company
09/08/2016 14:10
Aug 9 (Reuters) - Labixiaoxin Snacks Group Ltd 1262.HK : * Jinjiang LBXX notified by borrower that it would not be able to repay outstanding sum of entrusted loan together with accrued interest on time * Reference is made to the announcements of the company dated 7 August 2015 and 27 August 2015 in relation to the entrusted loan agreement * Jinjiang LBXX has decided to enforce the security provided by the borrower under the entrusted loan agreement * Informed by the borrower that it was in discussion with its principal bankers to obtain other sources of financing to re-finance the entrusted loan * Jinjiang LBXX and lending bank had been actively engaged in discussions with borrower with a view to exploring a debt restructuring plan * Source text for Eikon ID:nHKS7Z3BMt * ((Further company coverage: 1262.HK )) ((Bangalore.newsroom@thomsonreuters.com))
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