Strong Petrochemical Yet to Receive Disagreement Claim from Terminated Co-CEO

MT Newswires Live

Feb 18

Strong Petrochemical (HKG:0852) has not received any claim of disagreement against its board from terminated co-chief executive officer Tan Xiao's, according to a Monday filing with the Hong Kong Exchange.

The oil products company terminated Tan, effective Feb. 10, following a loss of trust between the parties, according to a disclosure filed the same day.

Tan's termination will not leave an adverse impact on Strong Petrochemical's operations, the filing said.

In addition, the company said it is in the process of requesting details of the statutory demand filed against it by a liquidator of Santron Holdings demanding the payment of $83.0 million plus interest.

Price (HKD): $0.17, Change: $-0.012, Percent Change: -6.74%

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