Brief: Newton Resources updates on final judgment taken against subsidiary of Co

Newton Resources

07/09/2016 13:17

Sept 7 (Reuters) - Newton Resources Ltd  1231.HK : 
 * Voluntary announcement in relation to final judgment taken against a 
subsidiary of the company  1231.HK  
 * Group is currently seeking further legal advice in relation to the appeal 
judgment 
 * Defendant shall pay to the plaintiff the outstanding construction fees of 
about RMB16.4 million 
 * Defendant shall bear the litigation costs and expenses of about RMB0.9 
million in aggregate 
 * Defendant's counterclaim was dismissed 
 * It is expected that the appeal judgment will not have any material adverse 
impact to the financial position of the group 
 * Expected litigation costs and expenses, interest accruals, legal fees will be 
recognised as expenses of group for FY 2016 
 * Reference is made in relation to, the involvement of Lincheng Xingye in 
litigation in the People'S Republic Of China as a defendant 
 
 * Source text for Eikon  ID:nHKS3ylzfz  
 
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