USPACE Technology's Units Face Summons Over Alleged Non-Payment of Rent

MT Newswires Live12-16

USPACE Technology Group (HKG:1725) said three of the group's subsidiaries received separate summons from the plaintiff Hong Kong Science and Technology Park for allegedly outstanding rent and management charges of about HK$47.4 million, according to a Friday filing with the Hong Kong stock exchange.

The companies named in the summons are Aspace Satellite Technology Limited (ASTL), Hong Kong Aerospace Satellite Tracking and Control (HKASTCL), and Hong Kong Aerospace Satellite Data (HKASDL), which are all housed at different premises owned by the plaintiff.

The company is currently seeking legal counsel and will respond accordingly.

The company stocks were down by 6% in recent trading.

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