March 3, 2020 / 7:19 PM / a month ago

BRIEF-Magnus Energy Group Updates On Letter Of Demand Received

March 4 (Reuters) - Magnus Energy Group Ltd:

* RECEIVED LETTER OF DEMAND DATED 29 FEB FROM SOLICITORS ACTING ON BEHALF OF AN INDIVIDUAL

* LETTER OF DEMAND FOR CLAIM FOR REPAYMENT OF LOANS WHICH EX-CEO ALLEGEDLY BORROWED FROM INDIVIDUAL IN 2016 PURPORTEDLY ON BEHALF OF CO

* LETTER OF DEMAND CONTAINS DEMANDS FOR REPAYMENT OF S$5.1 MILLION

* NO LEGAL PROCEEDINGS HAVE BEEN COMMENCED AGAINST COMPANY AT THIS STAGE Source text for Eikon: Further company coverage:

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