Hans Energy Co. Ltd. (HK:0554) has released an update.
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Hans Energy Co. Ltd. has disclosed that it’s unable to meet a financial covenant from a bank loan agreement, which might lead to a default event unless refinanced. The company is currently negotiating a refinancing deal with the bank on more favorable terms and asserts that, in case of a demand for immediate repayment, there are sufficient alternative financing options to continue operations without disruption. Shareholders and potential investors are advised to exercise caution when dealing with the company’s shares.
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