Securities code: 002330 securities abbreviation: Shandong Delisi Food Co.Ltd(002330) Announcement No.: 2022-004
Shandong Delisi Food Co.Ltd(002330)
Announcement on the progress of major litigation
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Basic information of this major lawsuit
Shandong Delisi Food Co.Ltd(002330) (hereinafter referred to as “the company”) filed a lawsuit with the Supreme Court of New South Wales, Australia. The company sued yolarno Pty Ltd ACN 002 255 183 (hereinafter referred to as “yolarno”) and asked it to return the advance payment of AUD 6 million and corresponding interest in full. For the basic information and specific contents of the lawsuit, see the company’s announcement on China Securities Journal, securities times, Shanghai Securities News, securities daily and cninfo (www.cn. Info. Com. CN) on March 28, 2020 Announcement on major litigation (Announcement No.: 2020-011).
2、 Progress of major litigation
Recently, the company received the judgment document issued by the Supreme Court of New South Wales, Australia. The main contents of the conclusion and judgment of the presiding judge are as follows:
The presiding judge held that Shandong Delisi Food Co.Ltd(002330) did not violate its obligation of good faith, but was deprived of its right to terminate the share sale and subscription agreement in accordance with paragraph 5 of the extension letter. Shandong Delisi Food Co.Ltd(002330) had issued a valid termination notice on June 30, 2016, although it did not reach the level of “trigger event” at that time. Therefore, Shandong Delisi Food Co.Ltd(002330) has the right to recover the advance payment from yolarno. The presiding judge will make a judgment in support of Shandong Delisi Food Co.Ltd(002330) claim in due time and decide to postpone the trial of the case in order to calculate the interest due to Shandong Delisi Food Co.Ltd(002330) and the litigation cost of Shandong Delisi Food Co.Ltd(002330) .
According to the agreement reached by both parties, the cross claim will be rejected and the judgment will be postponed until the final judgment of the case.
The court ruled as follows:
(1) The case was postponed to February 7, 2022 or other time.
Securities code: 002330 securities abbreviation: Shandong Delisi Food Co.Ltd(002330) Announcement No.: 2022-004
(2) It is hereby ordered that both parties discuss the judgment to be made by the court and submit the proposed decision no later than 24 hours before the adjourned hearing.
3、 Impact on the company
After this hearing, the Supreme Court of New South Wales, Australia, plans to make a judgment to support the company to recover the advance payment of AUD 6 million and the corresponding interest, and decides to postpone the hearing. For the advance payment of AUD 6 million involved in this lawsuit, the company has fully accrued asset impairment loss. If the advance payment and its actual interest are recovered, the company can reverse the asset impairment loss accrued in the previous period and increase the company’s profit.
The attorney in this case informed yolarno that he had 28 days to appeal the judgment, or informed the company of his intention to appeal within the next three months.
The company will timely perform corresponding information disclosure obligations for the progress of this litigation. Please invest rationally and pay attention to investment risks.
4、 Documents for future reference
Judgment document issued by the Supreme Court of New South Wales, Australia.
It is hereby announced.
Shandong Delisi Food Co.Ltd(002330) board of directors
January 19, 2002
