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CHINA ENV TEC (00646.HK) Appeals Legal Proceedings Related to Subscription Agreement and Bonds
CHINA ENV TEC (00646.HK) announced that in relation to the legal proceedings concerning a judgment handed down by the High Court of Hong Kong, which declared that the subscription ...
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CHINA ENV TEC (00646.HK)  0.000 (0.000%)   announced that in relation to the legal proceedings concerning a judgment handed down by the High Court of Hong Kong, which declared that the subscription agreement, the convertible bonds, the terms and conditions of the convertible bonds, and the side letter agreement are valid and legally enforceable, the Board concluded, after conducting a more in-depth analysis of the judgment and discussing with legal advisers, that there is a possibility that the judgment could be overturned.

Accordingly, the Companys lawyers have filed a notice of appeal with the Hong Kong Court of Appeal to appeal against the judgment, seeking an order to set aside the judgment and any other relief/directions the court may grant, as well as an order for the costs of the appeal to be paid to the Company. (sl/j)(HK stocks quote is delayed for at least 15 mins.)

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