General Announcement::RECEIPT OF STATUTORY DEMAND
Issuer & Securities
CHINA ENVIRONMENT LTD.
CHINA ENVIRONMENT LTD. - SG1Y42946521 - 5OU
Date &Time of Broadcast
Announcement Sub Title
RECEIPT OF STATUTORY DEMAND
Submitted By (Co./ Ind. Name)
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.