According to the Zhitong Finance App, Golden Jubilee Holdings (00091) issued an announcement that the company (as the defendant) received a subpoena dated August 7, 2023 from Times Square Limited (as the plaintiff) against the defendant from the District Court of the Hong Kong Special Administrative Region of China. As stated in the statement of claim attached to the warrant, the plaintiff claimed to the defendant that under the lease agreement between the defendant and the plaintiff to rent the entire 45th floor of the 45th floor of a block of Times Square, 1 Botteson Street, Causeway Bay, Hong Kong, China, an amount of approximately HK$2,677 million plus interest on the amount of HK$2.6677 million (interest is calculated at an annual interest rate of 8.875% from August 1, 2023 to the date of judgment); and is equivalent to a full payout rate of interest based on the judgement interest rate until payment); and is equivalent to being fully reimbursed Where the quasi-assessed plaintiff either paid the costs of the action contained in the warrant or according to the attorneys' fees charged to their clients loss of operating expenses.
The company is currently seeking legal advice on these lawsuits. The Company will make further announcements in due course to keep its shareholders and potential investors updated on any significant developments relating to these claims.