COCOON HOLDINGS (00428) has reached a settlement agreement with the applicant.

COCOON HOLDINGS (00428) announced that it has appointed a person (an independent third party) as the holder of the promissory note issued by the company in 2017, with a principal amount of HK$10 million, which matured on March 31, 2025. As of the date of this announcement, the unpaid interest amount is HK$1.1 million. As of the date of this announcement, the company has reached a settlement agreement with the appointee, and the appointee and the company have jointly signed a consent summons dated November 4, 2025, through their respective legal representatives, seeking the court to grant orders in accordance with the consent (including) allowing the withdrawal of the appointment without costs order; and to dismiss the appointment hearing scheduled in the High Court of Hong Kong on December 31, 2025. As of the date of this announcement, based on the knowledge, understanding, and belief of the directors after making all reasonable inquiries, the appointment does not have a significant impact on the company's operations and financial condition.