MOMENTUM FIN (01152) received a statutory demand for repayment of debt, and will resume trading on March 11th.

MOMENTUM FIN (01152) announced that on March 3, 2025, the company received a statutory demand letter from the law firm of Ho Wai & Co. acting for Forever Brilliance International Group Co., Limited (Forever Brilliance) in accordance with Section 178(1)(a) or Section 327(4)(a) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong), demanding payment of approximately HK$50.88 million for the outstanding principal amount and interest of the company's convertible bonds. The statutory demand letter requires the company to repay the outstanding amount within three weeks of the letter's delivery, otherwise Forever Brilliance may apply for the company's winding-up. The board of directors believes that there are differing opinions between the group and Forever Brilliance regarding the matters in the statutory demand letter (including the maturity date of the company's convertible bonds and the outstanding amount). The group is seeking legal advice on the demand letter and intends to negotiate with Forever Brilliance. In addition, the company has applied to the Stock Exchange for the resumption of trading of its shares from 9:00 am on March 11, 2025 (Tuesday).