News Column

China Food Company In Talks Over Default Of Loan Notes

July 11, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - China Food Company PLC Friday said it is technically in default under the terms of GBP5.69 million of loan notes outstanding, but said it is in talks with a number of loan note holders and expects to redeem the loan notes from proceeds following the sale of its operating businesses.

The Chinese manufacturer of cooking and dipping sauces has had its shares suspended from trading on AIM since June 25, after failing to publish its annual results for 2013 before the deadline.

The company has been trying to dispose of its animal feed business for some time, however last month it said it was still in talks to sell its animal feed business, and to dispose of its condiments business.

China Food shares last traded at 5.75 pence.

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Source: Alliance News

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