Brief: Sasseur Real Estate Investment Trust Updates On Potential Litigation

Sasseur Real Estate Investment Trust

25/09/2018 12:20

Sept 25 (Reuters) - Sasseur Real Estate Investment Trust
 SASS.SI :
    * ON 13 SEPT UNIT OF SASSEUR REIT, RECEIVED NOTICE THAT ZS2
INITIATED ACTION AGAINST UNIT OF SASSEUR REIT
    * ZS2'S CLAIM IS FOR A SUM OF ABOUT RMB148.4 MILLION AND ITS
LEGAL
COSTS
    * EXPECTS LEGAL PROCEEDINGS TO NOT HAVE ANY MATERIAL IMPACT
ON
DISTRIBUTION PER UNIT FOR CURRENT FY ENDING DEC 31
    * ZS2 ALSO SOUGHT AND OBTAINED INTERIM ORDERS FROM COURTS TO
FREEZE SOME OF BANK ACCOUNTS OF SASSEUR HEFEI IN PRC
    * SASSEUR HEFEI APPLIED AND HAS SUCCESSFULLY GOTTEN COURTS
TO
STRIKE OUT ORDERS FOR FREEZE ON KEY BANK ACCOUNTS
    * AS SUCH, MANAGER IS OF VIEW THAT THERE WILL NOT BE ANY
DISRUPTIONS TO OPERATIONS OF SASSEUR HEFEI, HEFEI OUTLETS

Source text for Eikon:  ID:nSNZ22DSBS 
Further company coverage:  SASS.SI 

 ((Reuters.Briefs@thomsonreuters.com;))