Brief: Suncity Group Says Was Informed About Demand Letter Issued By Legal Advisers To Wooco

LET group

10/12/2021 12:32

Dec 10 (Reuters) - Suncity Group Holdings Ltd  1383.HK :
    * INFORMED BY STAR SOUL INVESTMENTS THAT IT WAS SERVED WITH
A
DEMAND LETTER ISSUED BY LEGAL ADVISERS TO WOOCO SECRETARIAL
SERVICES
    * APPLICATION MADE TO STOCK EXCHANGE FOR RESUMPTION OF
TRADING
WITH EFFECT FROM 9:00 A.M. ON 13 DEC
    * DEMAND LETTER UNDER A FACILITY AGREEMENT DATED 30 JULY ON
A LOAN
OF HK$300 MILLION
    * UNDER DEMAND LETTER, IT IS ALLEGED THAT AN EVENT OF
DEFAULT
UNDER FACILITY AGREEMENT HAS OCCURRED
    * DEMAND LETTER DEMANDS FULL REPAYMENT OF PRINCIPAL AMOUNT
WITH
INTEREST WORTH HK$313.6 MILLION IN 5 BUSINESS DAYS FROM 8 DEC

Further company coverage:  1383.HK 

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