CHK OIL (00632): Seeks injunction to restrain presentation of winding-up petition

CHK OIL (00632) announced that the Company received a statutory demand dated 12 October 2026 issued by legal counsel acting on behalf of Vulcan Inovao (Macau) Consultoria Limitada (the "Creditor") under 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 that the Company pay a total sum of HK$1.05 million, being the unpaid remuneration claimed by the Creditor for services provided to the Company. The statutory demand requires the Company to pay the alleged debt within three weeks from the date of service of the statutory demand, failing which the Creditor may present a winding-up petition against the Company. On 2 November 2026, the Company filed with the High Court of the Hong Kong Special Administrative Region an originating summons seeking an injunction against the Creditor to restrain the Creditor from presenting a winding-up petition against the Company based on the statutory demand; and a summons to convene all parties to the proceedings seeking an interim injunction and an interim-interim injunction against the Creditor to restrain the Creditor from presenting a winding-up petition against the Company based on the statutory demand until the originating summons and the summons to convene all parties to the proceedings are finally determined. The first hearing of the summons to convene all parties to the proceedings has been scheduled for 9:30 a.m. on 6 November 2026. To the best of the Directors' knowledge, information and belief, the Creditor is ultimately controlled by the father of Wong Wai Sze, a former executive director of the Company. The Creditor is a company incorporated in Macau and claims to be a consultancy firm providing market research services. The Company considers that the amount of the alleged debt is doubtful and is actively taking steps to verify its accuracy. Meanwhile, the Company is seeking legal advice and will actively consider the actions it may take against the Creditor.