Brief: Trade Window Says Nchain Not In Position To Make Payment Of Subscription Amount Under Agreement

Trade Window Holdings

01/10/2023 20:35

Oct 2 (Reuters) - Trade Window Holdings Ltd  TWL.NZ :
    * NCHAIN CURRENTLY NOT IN POSITION TO MAKE PAYMENT OF CASH
SUBSCRIPTION AMOUNT AS SCHEDULED UNDER STRATEGIC PARTNERSHIP
AGREEMENT
    * HAS ENGAGED LEGAL COUNSEL AND INTENDS TO PURSUE AVAILABLE
REMEDIES IN RESPECT OF BREACH BY NCHAIN
    * FAILURE OF NCHAIN TO SETTLE CASH SUBSCRIPTION PAYMENT HAS
TRIGGERED  EVENT OF REVIEW UNDER TRADEWINDOW'S BANK FACILITY
AGREEMENTS
    * TRADEWINDOW WILL ENGAGE FINANCIER IMMEDIATELY TO SEEK A
WAIVER
OF REVIEW EVENT

Further company coverage:  TWL.NZ 

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