Chiho Environmental Group Limited (HK:0976) has released an update.
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Chiho Environmental Group Limited has informed stakeholders of unauthorized changes to their Controlling Shareholders’ restructuring plan, which significantly undercut the share transfer price and potentially damaged creditor and company interests. The alterations made by the Administrators failed to comply with the Bankruptcy Law and jeopardized the rights of minority shareholders, prompting legal action to invalidate the restructuring investment agreement. Despite these challenges, the company maintains that its operations and financial status remain stable and unaffected.
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