General Announcement::LENDER ACTION WITH REGARD TO RECEIPT OF REPAYMENT NOTIFICATION
Issuer & Securities
CHINA ENVIRONMENT LTD.
CHINA ENVIRONMENT LTD. - SG1Y42946521 - 5OU
Date &Time of Broadcast
Announcement Sub Title
LENDER ACTION WITH REGARD TO RECEIPT OF REPAYMENT NOTIFICATION
Submitted By (Co./ Ind. Name)
Corporate Affairs Manager
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of China Environment Ltd (the "Company" and, together with its subsidiaries, the Group ) wishes to announce that pursuant to the receipt of repayment notification from Bank of China ( Lender ) announced on 24 August 2016, the Lender has filed a civil suit against the Company s wholly-owned subsidiary, Fujian Dongyuan Environmental Protection Co., Ltd ( FJDY ) for the corporate guarantee FJDY allegedly entered into for Bangbu Xingyuan Environmental Protection Technology Co., Ltd.
The Anhui Bangbu People s Court has served an injunction on the Land and Property assets of FJDY, pending the outcome of the civil suit. Under this injunction, the Land and Property assets cannot be damaged, sold, pledged, transfer without the People s Court approval. The People s Court will hear the civil suit on 28 November 2016.
The Company will keep the shareholders informed on any further material developments
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