Brief: China Fibretech updates on claims by customers

Raffles Infrastructure Holdings

29/09/2016 16:04

Sept 29 (Reuters) - China Fibretech Ltd  CHFI.SI  
    * It is noted claimants have requested company to settle 
compensation claims by 28 september 2016 
    * "highlight that resolution of abovementioned payment to 
claimants was not proposed to board for voting" 
    * Noted that said payment was approved by Wu Xinhua and Wu 
Dezhi in order to avoid further compensation and interest 
claimed by claimants 
    * Unit informed on 29 september 2016 that payment of 
compensation has been made to claimants on 28 september 2016 
afternoon 
    * "highlight that resolution ... Above mentioned payment was 
not approved during teleconference on 27 september 2016" 
    * "due to uncertainties surrounding these claims, trading of 
company shares will continue to be suspended" 
 
Source text (http://bit.ly/2da3oc9) 
Further company coverage:  CHFI.SI  
 
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