On 2 July 2020, the Bank served on Lerthai Group Limited statutory demands requesting the Company to pay the Bank the outstanding principal sum of approximately HKD 1.425 billion; interest and default interest accrued in the total sum of approximately HKD 2.59 million; and daily default interest of HKD 463.523.54 from 3 July 2020 until payment in full and all other costs and expenses of approximately HKD 9.9 million in relation to the default of the Loans within three weeks after the service of the Statutory Demands. Nevertheless, the Company is making every effort to actively consider other options to continue negotiating and reaching an agreement with the Bank. However, the Company cannot exclude the possibility that the Bank may take further legal action against the Company. The Company is seeking professional advice in relation to the Statutory Demands and will liaise with the Bank to resolve the matter. The Company will negotiate with the Bank regarding the repayment arrangement and with a view to agree on a restructuring of the Loans. Further announcement(s) will be made by the Company as and when necessary.