PACIFIC LEGEND (08547.HK): winding-up petition hearing adjourned for decision, board considers defences to be meritorious

NewTimeSpace News: On 17 August 2026, Pacific Legend Group Limited (stock code: 08547) announced an update on the winding-up petition, stating that the hearing of the petition was held on the same day and adjourned for a decision, with the date of the decision not yet determinable; the Company will publish further announcements to update its shareholders and investors when the decision is handed down.

According to the announcement, after careful consideration of the advice of the Company's legal advisers on the merits of the case, the Board considers that: (i) the Company has a full and valid defence to the claim; (ii) it has a strong and well-founded defence to the allegations in the petition, as the relevant debt is a debt of a subsidiary of the Company and the petitioner has in substance made a claim against an inappropriate legal entity; and (iii) apart from the amount involved in the claim, any other potential losses the Company may face are expected to be immaterial. The Company is taking legal advice on the matter and will publish further announcements in due course to notify shareholders and investors of any material progress. Shareholders and potential investors should exercise caution when dealing in the securities of the Company.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.