Elife Holdings Limited (HK:0223) has released an update.
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Elife Holdings Limited has initiated legal proceedings to recover an outstanding debt of approximately HK$20.94 million from former director Mr. Gao Feng, following his failure to meet the repayment terms of an amended agreement. Despite partial repayments totalling HK$2.57 million, the company has now issued a writ of summons through its Hong Kong legal counsel to enforce full repayment. Shareholders and potential investors are advised to exercise caution when dealing in company securities amidst these developments.
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