Brief: NVC Lighting updates on liabilities arising from Shang Yang sales arrangement

NVC International Holdings

13/01/2016 08:58

Jan 13 (Reuters) - NVC Lighting Holding Ltd  2222.HK : 
 * Connected transactions  2222.HK  
 * Huizhou NVC has taken legal action in the prc to seek to recover around RMB13 
million of outstanding liabilities 
 * Liabilities arising from the shang yang sales arrangement 
 * Shang yang's position in those proceedings is that it is not liable to 
Huizhou NVC, and legal action is still ongoing 
 * Says board believes that the works contemplated by the lighting project 
contract have all been completed 
 * Outstanding liabilities of shang yang to Chongqing NVC under such arrangement 
still amount to approximately RMB3.73 million 
 * Says recently become aware of the existence of the lighting project contract 
dated December 2011 
 * Is not aware of any further transactions with shang yang after the year 2013 
 
 * Source text for Eikon  ID:nHKS7X5HDk  
 
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