SINO-OCEAN GP Slumps ~15% at Open, Filed Winding-up Petition by Bank of New York Mellon

　　SINO-OCEAN GP (03377.HK) -0.035 (-9.333%) opened 14.67% lower at $0.32 today (28th), with 3.6475 million shares traded, involving $1.1672 million. SINO-OCEAN GP had yesterday (27th) received a winding-up petition filed by The Bank of New York Mellon, London Branch at the Court of Hong Kong in relation to the non-repayment of the 3.25% guaranteed notes due 2026 issued by Sino-Ocean Land Treasure IV Limited (a wholly-owned subsidiary of the company) and guaranteed by the company in the aggregate principal amount of US$400 million and accrued interests.

　　The company is now at an advanced stage of discussion with the coordination committee of lenders of the existing syndicated loans of the group and expects that an agreement on the principal terms of the holistic debt management arrangement will be reached in due course.

　　SINO-OCEAN SERV (06677.HK) 0.000 (0.000%) also opened lower by 3.16% to $0.46 today. The company stated that the Petition will have no material impact on the Group's financial performance and operations.

　　(HK stocks quote is delayed for at least 15 mins.)