JINHUI HOLDINGS (00137): Cancellation of the major transaction regarding the sale of a vessel.
Jinhui Group (00137) announced that the company has received a notification from Jinhui Shipping. Due to the failure to fulfill a timely delivery clause in the agreement (entered into with the buyer on December 2, 2025 for the sale of the vessel at a price of $14.4 million), the agreement was revoked on January 23, 2026. According to the terms of the agreement, the initial deposit of $1.44 million delivered to the escrow agent will be refunded to the buyer. The directors believe that the revocation of the sale of the vessel will not have any significant adverse impact on the financial position and operations of the Group.
JINHUI HOLDINGS (00137) announces that the company has received a notice from Jinhui Shipping, stating that due to the buyer's failure to fulfill a timely delivery clause in the agreement (signed on December 2, 2025 for the sale of the vessel at a price of $14.4 million), the agreement was revoked on January 23, 2026. According to the terms of the agreement, the initial deposit of $1.44 million already delivered to the escrow agent will be refunded to the buyer. The Directors believe that the cancellation of the sale of the vessel will not have any significant adverse impact on the financial position and operations of the Group.
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