COCOON HOLDINGS (00428) announced that it has reached a settlement agreement with the petitioner, an independent third party who holds the company's HKD 10 million promissory notes issued in 2017. The notes matured on March 31, 2025, with unpaid interest amounting to HKD 1.1 million as of the announcement date.

Both parties, through their respective legal representatives, jointly signed a consent summons dated November 4, 2025, seeking court approval to withdraw the petition without a costs order and to cancel the scheduled hearing at the Hong Kong High Court on December 31, 2025.

The company's directors confirm that, after reasonable inquiries, the petition has no material impact on its operations or financial condition.