Board of Directors of Jasper Investments Limited informs that Jasper Cosmopolitan has been unable to raise sufficient funds to take delivery of the Jasper Cosmopolitan vessel from Yiulian Shipyard, and as such a Non-payment Event has occurred.

Pursuant to the Non-payment Event, Yiulian Shipyard has exercised its right to seek to sell the Jasper Cosmopolitan vessel.

The Group intends to work collaboratively with Yiulian Shipyard on the sale process and, to the best of the Board’s ability, negotiate a profit share in the interest of enhancing the Jasper Cosmopolitan vessel’s sale price and increase the value to the benefit of the shareholders.

Tags: Jasper Investments Limited