Brief: Northeast Electric Development Says Civil Pleadings Submitted By Unit Accepted

Northeast Electric Development

07/01/2019 11:37

Jan 7 (Reuters) - Northeast Electric Development Co Ltd
 000585.SZ :
    * CIVIL PLEADINGS SUBMITTED BY UNIT BEEN ACCEPTED BY HIGHER
PEOPLE'S COURT OF HAINAN PROVINCE
    * FIRST DEFENDANT SHALL PAY PLAINTIFF USD16 MILLION
    * SECOND DEFENDANT SHALL BE JOINTLY LIABLE FOR PAYMENT OF
EQUITY
TRANSFER CONSIDERATION BY FIRST DEFENDANT
    * JUDGMENT OF COURT WILL NOT HAVE ANY NEGATIVE IMPACT ON
CURRENT
OR SUBSEQUENT PROFIT OF COMPANY ON CONSOLIDATION BASIS

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS66jHPX
Further company coverage:  000585.SZ 

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