MiLOC Group Limited - UPDATE ON SUPPLIER DISPUTES
RNS Number : 1282K
MiLOC Group Limited
03 May 2022
 

3 May 2022

 

MiLOC GROUP LIMITED

("MiLOC" or "the Company")

 

UPDATE ON SUPPLIER DISPUTES

 

 

The Company announces that, further to the announcement of 28 January 2022, its subsidiary, Star Collaboration (Guangzhou) Limited ("Star C") has signed a settlement agreement with the supplier for one of the legal proceedings, whereby Star C will pay a total of approximately £60,714 (equivalent to approximately RMB500,000).

The Company also announces that Star C and Star C's immediate holding company, has been notified by another supplier of the commencement of a legal proceeding, seeking RMB1,783,000 (approximately GBP216,500) in trade payables from the Company, that are in dispute with regard to the amount. The Company will defend its the case. Further updates will be announced once further information becomes available.

 

The directors of the Company accept responsibility for the contents of this announcement.

 

For further information, please contact:-

 

MiLOC

ONG Ban Poh Michael - Chief Executive Officer

Lilian Lo - Acting Chief Financial Officer

 

 

 

 

Tel: +852 2110 4221

 

AQSE Growth Market Corporate Adviser

PETERHOUSE CAPITAL LIMITED

Guy Miller

Mark Anwyl

Tel: +44 (0) 20 7469 0930

 

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