General Announcement::RECEIPT OF STATUTORY DEMAND

Issuer & Securities

Issuer/ Manager
CHINA ENVIRONMENT LTD.
Securities
CHINA ENVIRONMENT LTD. - SG1Y42946521 - 5OU
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
12-Mar-2020 14:28:33
Status
New
Announcement Sub Title
RECEIPT OF STATUTORY DEMAND
Announcement Reference
SG200312OTHRMC73
Submitted By (Co./ Ind. Name)
Remy Tan
Designation
Corporate Affairs Mgr
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 make an announcement regarding a claim by its former Chief Financial Officer Soh Yong Soon ( "Mr Soh" ) against the Company. The Company received a letter of demand dated 9 March 2020 from Mr Soh for payment of the sum of approximately S$67,748, in respect of unpaid salary and expenses.

The letter stated that it is a statutory demand and unless the total sum is paid or secured or compounded within 3 weeks after the date of service of the statutory demand, the Company would be deemed to be unable to pay the debts and Mr Soh's lawyer is entitled to commence compulsory winding-up proceedings against the Company.

The Company is liaising with Mr Soh to seek clarifications in relation to this letter and outstanding sum payable.

The Company will keep the shareholders updated when we establish the matters accordingly.