Swissco issued with default noticeCompany News // October 24, 2016
The board of directors of Swissco Holdings Limited reports that on 20 October 2016 the company received a notice from DB International Trust (Singapore) Limited, in its capacity as Notes Trustee), stating that a Potential Event of Default has occurred pursuant to Condition 9(a) due to the failure of the company to pay interest due and payable on the Notes on 16 October 2016.
The trustee has reserved all rights to take whatever remedial actions it deems necessary at any time following the occurrence of the potential event of default. The company has not received any notice from the Trustee that the Notes are immediately due and payable.
The company will provide an update if there are further developments. In the meantime, shareholders, nNoteholders and the investing public are advised to exercise caution before making any decision in respect of their dealings in the company's shares and the notes.