On June 28, Gelonhui reported that Sino-Ocean Services (06677.HK) received a notification that on June 27, 2024, Bank of New York Mellon announced a liquidation petition to the High Court of the Hong Kong Special Administrative Region on behalf of its London branch to Ocean Holding Group. The petition itself concerns several secured notes issued by a wholly-owned subsidiary of Ocean Holding Group, which were guaranteed by Ocean Holding Group and remain outstanding. As of this announcement, the High Court has not made any liquidation orders against Ocean Holding Group.
As of the date of this announcement, the board of directors of the Company holds the view that the petition will have no significant impact on the financial performance and operations of the Group as Sinoocean Group, the Company's controlling shareholder, indirectly holds 755,600,000 shares, representing approximately 63.82% of the total number of issued shares of the Company.