Zhitong Financial APP News, Yuxing Technology (08005) issued a notice related to the extension of the remaining loan of HK $41 million. Under the fourth Supplementary loan Agreement, the outstanding accrued interest payable under the remaining loan and the fourth Supplementary loan Agreement shall be repaid by the borrower to the lender on or before the maturity date of 30 June 2023. As of the date of this announcement, the borrower has not repaid the remaining loan or accrued interest.
The lender has sought legal advice and negotiated with the borrower. On July 3, 2023, the lender issued a reminder (reminder) to the borrower for the repayment of the remaining loan and its accrued interest.
According to the reminder, which includes, the lender requires the borrower to repay the remaining loan in full within 7 business days from the date of the reminder, together with its accrued interest up to June 30, 2023, totaling approximately HK $43.453 million. Otherwise, appropriate legal action to recover the above money will be taken from the borrower without prior notice.
After its maturity on 30 June 2023 and as at the date of this announcement, the lender has negotiated with the borrower on the repayment of the remaining loan and its accrued interest. As of the date of this announcement, the lender and the borrower have not agreed or reached a final settlement.