Brief: Titan Invo Technology Receives Winding-Up Petition

Titan Invo Technology

05/10/2023 11:32

Oct 5 (Reuters) - Titan Invo Technology Ltd  0872.HK :
    * ON 3 OCT RECEIVED A WINDING-UP PETITION AGAINST COMPANY
DATED 28
SEPT 2023
    * PETITION FILED ON BASIS OF GUARANTEE AND INDEMNITY
PROVIDED BY
CO TO DBS UNDER LOAN AGREEMENT
    * PETITION IS RELATED TO OUTSTANDING PRINCIPAL OF LOAN
TOGETHER
WITH ACCRUED INTEREST THEREON
    * TRADING IN SHARES OF CO ON STOCK EXCHANGE WILL REMAIN
SUSPENDED
UNTIL FURTHER NOTICE
    * BOARD IS OF VIEW THAT PETITION DOES NOT REPRESENT
INTERESTS OF
OTHER STAKEHOLDERS AND MAY IMPAIR VALUE OF CO
    * CO IS CURRENTLY SEEKING LEGAL ADVICE AS TO APPROPRIATE
COURSE OF
ACTION IN RESPECT OF PETITION
    * AS AT OCT 5, NO WINDING-UP ORDER HAS BEEN GRANTED BY HIGH
COURT
TO WIND-UP CO

Source text for Eikon:  ID:nHKS5yV31d 
Further company coverage:  0872.HK 

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