The amount requested includes the monthly salaries of the individuals above, payments made on behalf of the trustee-manager, and, or a loan that was extended to the trustee-manager.
On Jan 25, the trustee-manager received another statutory demand letter from Zhang Guiming concerning $272,000 in outstanding payments that were due and owing by the former under two short-term advance agreements made on May 12, 2022 and Jan 18, 2023. Zhang is the nephew of Zhang Zhencheng, a non-executive director on Dasin Retail Trust ’s board.
In its Feb 2 filing, the trustee-manager said that it is currently seeking legal advice. The board also understands that the trustee-manager’s major shareholder confirmed that it will continue providing financial support under the shareholders’ agreement dated July 23, 2021. The trustee-manager’s major shareholder will also help it in resolving the relevant claims.
Units in Dasin Retail Trust closed flat at 5 cents on Feb 2.
