China Environmental Technology Reaches Settlement Over Convertible Bond Dispute

MT Newswires Live
Sep 07

China Environmental Technology (HKG:0646) has reached a settlement with Sure Fast in legal proceedings over its disputed convertible bonds, according to a Sept. 4 Hong Kong bourse filing.

Under the settlement deed signed Sept. 4, the company will pay a final settlement, plus interest, in three installments through December 2027.

Sure Fast has agreed not to pursue winding-up proceedings, other claims or enforcement of the court judgment against the company while payments are made, subject to specified events of default.

The settlement relates to the company's $7 million convertible bonds due in 2021, after a Hong Kong High Court judgment in April declared the bond subscription agreement and related documents valid and enforceable.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10