China Environmental Technology reaches US$11.29 million settlement with Sure Fast on disputed 2021 convertible bonds

Bulletin Express
09/06

China Environmental Technology Holdings Limited has signed a Deed of Settlement with bondholder Sure Fast on 4 September 2026, resolving all outstanding litigation linked to the Company’s US$7 million 2021 due-2021 convertible bonds.

Key financial terms • Final settlement sum: US$11.29 million. • Additional interest: US$168,613.70 plus 10% per-annum interest on US$9.52 million, accrued from 28 June 2021 until final payment.

Payment schedule 1. US$5.65 million by 31 December 2026. 2. US$5.65 million by 30 June 2027. 3. Accrued interest in full by 31 December 2027.

Standstill provisions From the Deed’s effective date, Sure Fast will refrain from filing winding-up petitions, initiating or pursuing further claims, or enforcing the High Court judgment, unless an Event of Default occurs.

Events of Default Triggers include any missed instalment, insolvency proceedings, prejudicial creditor arrangements, business cessation, prolonged trading suspension (over 45 business days) not linked to restructuring initiatives, failure to provide requested financial information, or other materially adverse events affecting the Company’s ability to perform its obligations, subject to specified carve-outs.

Cost allocation Each party will bear its own expenses related to the negotiation, preparation and execution of the Deed.

The Company advises shareholders and potential investors to exercise caution when dealing in its shares.

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