SUNSHINE OIL has fully repaid the amounts owed to the petitioner, who will promptly proceed with the withdrawal of the petition
SUNSHINE OIL announced that all debts to creditors have been repaid, and the petitioner will withdraw the petition procedures as soon as possible. The company has repaid the funds to Lin's investors, and the board believes that this move will not have a significant impact on the company's financial performance
According to the announcement from Sunshine Oil Sands (02012), the company received the petition on August 20, 2025, and thus issued this announcement on the same day. The petitioner is a creditor registered in Hong Kong under the Money Lenders Ordinance (Chapter 163), license number 0964/2025. The petitioner was an investor in the bonds issued by the company. As of the date of this announcement, the company has fully repaid the amounts owed to the petitioner (excluding legal fees).
The company also received a notice from Lin Zhi Cheng regarding "the notice of intention to appear at the petition hearing," with Lin acting as an ancillary petitioner, claiming financial liability of HKD 1.223 million against the company. Lin is a third-party individual investor in the company's bonds. As of the date of this announcement, the company has fully repaid the amounts owed to Lin (excluding legal fees).
The petitioner will proceed with the withdrawal of the petition as soon as possible.
The board of directors believes that since the financial information related to the bonds invested by the petitioner has been recorded in the company's financial statements, and the amounts payable to the aforementioned creditors (excluding legal fees) have been fully settled, the aforementioned creditors will not have a significant adverse impact on the company's financial performance and financial condition
