GLG Life Tech (TSE:GLG) has released an update.
GLG Life Tech Corporation, a leader in the natural zero-calorie sweetener industry, has announced a delay in filing its annual financial statements due to court orders affecting its subsidiary’s bankruptcy proceedings in China. These developments are part of GLG’s debt restructuring plan and are expected to improve the company’s balance sheet substantially by reducing debt and increasing assets. The company is now working closely with auditors to assess the financial impact and revise its 2023 annual statements accordingly.
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