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Classified in: Business
Subject: FNC

Sunwah International Completes Debt Settlements

TORONTO, July13, 2018 /CNW/ - Sunwah International Limited (TSX: SWH) ("Sunwah"), an Asian based financial services firm, announces the completion of its two debt settlement agreements, which were previously announced on June 21, 2018, pursuant to which Sunwah transferred 434,429,902 shares in Sunwah Kingsway Capital Holdings Limited ("SWK") with a value equal to approximately CAN$7.66 million in settlement of Sunwah's outstanding 8% debentures and its revolving loan facility. As a result of these debt settlement transactions, Sunwah's equity interest in SWK has decreased from approximately 35% to approximately 28%. SWK is a company listed on the Main Board of The Stock Exchange of Hong Kong.

About Sunwah International Limited

Founded in 1990, Sunwah International Limited (TSX: SWH) represents the financial services division of Sunwah Group, one of Asia's most prominent multi-national conglomerates. The Company's primary investment interest, Hong Kong based Sunwah Kingsway Capital Holdings Limited, is listed on the Stock Exchange of Hong Kong under the stock code 00188. Sunwah Kingsway is licensed to provide a range of financial solutions in Hong Kong and abroad that include award-winning brokerage services and innovative corporate finance offerings.

SOURCE Sunwah International Limited

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News published on 13 july 2018 at 17:00 and distributed by: