GLOBAL M HLDG received a demand letter from JSM, requesting repayment of the full amount of HKD 102 million under the loan agreement
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GLOBAL M HLDG received a demand letter from JSM, requesting the repayment of the full amount of HKD 102 million under the loan agreement. The company failed to pay the accrued interest on time, resulting in a default on the loan agreement. The demand letter stated that the company's shares would be suspended from trading starting February 19, 2025, and Mr. Zhang would no longer serve as an executive director from November 13, 2024. If the company fails to repay in a timely manner, the lender may take legal action
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