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Home > News > Moso to Receive Compensation Worth RMB 35 M Over Canceled Financing Agreement
July.21, 2015 - 17:01 — judy.lin
  

Moso to Receive Compensation Worth RMB 35 M Over Canceled Financing Agreement

It has been two months since Chinese LED power manufacturer Moso halted trade on the Chinese bourse as it planned to acquire more financing on May 20, 2015.

After numerous negotiations, Moso Power concluded the conditions for the financial restructure was immature, and reconsidered the financing agreement. An agreement to terminate the deal was signed by Moso Power, and the investor is obliged to compensate the company under the agreement.

Moso Power will be receiving RMB 35 million (US $5.64 million) compensation, which will be listed as the company’s profits and losses this quarter.

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