on SMCP (EPA:SMCP)
SMCP: Progress report on the forced restitution of capital
On June 24, 2025, SMCP announced progress in the dispute concerning the return of 15.5% of its capital. Since October 2024, GLAS SAS, trustee of the European TopSoho (ETS) exchangeable bonds, has been pursuing proceedings in Singapore. A hearing is scheduled for July 2, 2025. This dispute follows a cancellation of the sale ordered by the English courts in July 2024. The 15.5% of the capital must therefore be returned to ETS following a cancellation of the sale to Dynamic Treasure Group Ltd.
Furthermore, the Singapore court dismissed the appeal of Wuhu Ruyi Xinbo Investment Partnership, which claimed a claim to this stake, in May 2025. This company, linked to Shandong Ruyi, now no longer has an appeal option in this case.
R. P.
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