Brief: Magnus Energy Group Updates On Letter Of Demand Received

Magnus Energy

03/03/2020 19:18

March 4 (Reuters) - Magnus Energy Group Ltd  MAGN.SI :
    * RECEIVED LETTER OF DEMAND DATED 29 FEB FROM SOLICITORS
ACTING ON
BEHALF OF AN INDIVIDUAL
    * LETTER OF DEMAND FOR CLAIM FOR REPAYMENT OF LOANS WHICH
EX-CEO
ALLEGEDLY BORROWED FROM INDIVIDUAL IN 2016 PURPORTEDLY ON BEHALF
OF CO
    * LETTER OF DEMAND CONTAINS DEMANDS FOR REPAYMENT OF S$5.1
MILLION
    * NO LEGAL PROCEEDINGS HAVE BEEN COMMENCED AGAINST COMPANY
AT THIS
STAGE

Source text for Eikon:  ID:nSNZ4yP0l4 
Further company coverage:  MAGN.SI 

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