Rykadan Capital Ltd. (HK:2288) has released an update.
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Rykadan Capital Limited has disclosed a default on one of its financial covenants, specifically the net worth requirement, as per its latest consolidated financial statements. The company is actively negotiating with bankers for waivers and revised terms, and remains confident that it will secure the necessary agreements or alternative financing to continue operations without disruption. Shareholders and potential investors are cautioned to be mindful of this situation when dealing in the company’s shares.
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