Brief: Yida China Says Individuals Appointed Joint & Several Receivers Of 19.99% Of Co's Shares

Yida China Holdings

13/05/2022 24:55

May 13 (Reuters) - Yida China Holdings Ltd  3639.HK :
    * ON MAY 12, GOT LETTER ON APPOINTMENT OF INDIVIDUALS OF
ALVAREZ &
MARSAL ASIA AS JOINT & SEVERAL RECEIVERS OF 19.99% OF CO'S
SHARES
    * APPOINTMENT DUE TO FAILURE OF YIDA PARTIES TO SATISFY
THEIR
REPAYMENT OBLIGATIONS UNDER SETTLEMENT AGREEMENT
    * CO HAS BEEN NEGOTIATING A SOLUTION WITH PARTIES
    * CONTINUOUSLY ASSESS FINANCIAL AND OPERATIONAL IMPACTS OF
RECEIVERSHIP OVER GROUP

Further company coverage:  3639.HK 

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