Fantasia Holdings Disputes Attempted Auction of Colour Life Shares
Reuters
Nov 12
Fantasia Holdings Disputes Attempted Auction of Colour Life Shares
Fantasia Holdings Group Co. Ltd. is involved in a dispute concerning shares in its subsidiary, Colour Life Services Group Co. Limited. The company received notice from Odysseus Capital Asia Limited, acting for an entity related to TFISF, regarding an attempt to sell up to 29.9% of Colour Life's issued shares through an auction process. TFISF claims that over 780 million shares in Colour Life, representing about 41.95% of the company, are held as security for an alleged debt. Fantasia Holdings disputes that the shares are valid security for the claimed amount and has formally objected to the auction process while seeking legal advice to protect its interests.
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