Jasper Fails to Take Delivery of Jasper Cosmopolitan from Yulian Shipyard
Singapore-listed Jasper Investments Limited (the Company and together with its subsidiaries, the Group) referred Monday to the Company’s announcement dated Aug. 22 (the Previous Announcement). Unless otherwise defined, all capitalized terms used in this announcement shall bear the same meanings ascribed to them in the Previous Announcement.
Further to the Previous Announcement, the Board wishes to inform that Jasper Cosmopolitan has been unable to raise sufficient funds to take delivery of the Jasper Cosmopolitan accommodation semisub from China's Yiulian Shipyard, and as such a Non-payment Event has occurred. Pursuant to the Non-payment Event, Yiulian Shipyard has exercised its right to seek to sell the Jasper Cosmopolitan vessel. The Group intends to work collaboratively with Yiulian Shipyard on the sale process and, to the best of the Board’s ability, negotiate a profit share in the interest of enhancing the Jasper Cosmopolitan vessel’s sale price and increase the value to the benefit of the shareholders. Further announcements will be made on any material developments on the foregoing matters, as and when appropriate.
In the meantime, Shareholders are advised to exercise caution when dealing in the securities of the Company and refrain from taking any action in relation to their securities which may be prejudicial to their interests.
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