Brief: Suncity Group Updates On Possible Loan Default By Associate Of Controlling Shareholder

LET group

16/12/2021 13:46

Dec 16 (Reuters) - Suncity Group Holdings Ltd  1383.HK :
    * UPDATE ON POSSIBLE LOAN DEFAULT BY ASSOCIATE OF
CONTROLLING
SHAREHOLDER OF CO
    * CLAIMED THAT BORROWER HAS FAILED TO REPAY INDEBTEDNESS AS
DEMANDED UNDER DEMAND LETTER
    * BORROWER WAS NOTIFIED THAT LENDERS HAVE NO ALTERNATIVE BUT
TO
ENFORCE SECURITIES UNDER SECURITY DOCUMENTS
    * ENFORCEMENT INCLUDES SELLING, REALISING, TRANSFERRING OR
OTHERWISE DISPOSING OF ALL OR ANY PART OF THEM WITHOUT FURTHER
NOTICE

Source text for Eikon:  ID:nHKS2GFpJm 
Further company coverage:  1383.HK 

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