Evergreen International Holdings Limited announced that as disclosed in the 11 March 2020 Announcement, interest on the Bonds are payable semiannually in arrears on 30 June and 31 December, and the Company paid the Bondholders on 28 February 2020 the half-year interest due and payable on 31 December 2019 totaling approximately HKD 4.9 million. Since the 11 March Announcement, the Company has been negotiating with the Bondholders regarding possible settlement arrangements in respect of the Default with a view to reaching an amicable solution with the Bondholders. The Company is now proposing to settle the matter with the Bondholders by signing supplemental bond instrument with the Bondholders. The Company has not yet paid the Bondholders the most recent half-year interest due and payable on 30 June 2020 totaling approximately HKD 4.5 million. Since the 11 March Announcement and up to the date of this announcement, the following statutory demands under section 178(1)(A) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong) (the Statutory Demands) were served on the Company by six Bondholders (the Creditors): on 18 March 2020, by the Bondholder who was reported in the 11 March Announcement as having demanded immediate repayment of the HKD 6 million principal amount of the Bonds held by it together with interest thereon, demanding the Company to pay an aggregate amount of HKD 6,067,315.07, being the principal and interest due and repayable under the Bonds held by it; on 8 July 2020, by two Bondholders each demanding the Company to pay an aggregate amount of HKD 5,117,773.97, being the outstanding principal and interest on the respective Bonds held by them; on 14 July 2020, by a Bondholder demanding the Company to pay an aggregate amount of HKD 3,730,487.67, being the outstanding principal and interest on the Bonds held by him/her; on 14 July 2020, by a Bondholder demanding the Company to pay an aggregate amount of HKD 1,865,243.84, being the outstanding principal and interest on the Bonds held by him/her; and on 14 July 2020, by a Bondholder demanding the Company to pay an aggregate amount of HKD 1,761,619.18, being the outstanding principal and interest on the Bonds held by him/her. If the Company fails to repay the relevant debt within three weeks after the date of service of the Statutory Demands, a winding-up order may be made in respect of the Company. As at the date of this announcement, so far as the Directors are aware, no winding-up petition has been presented against the Company to a court of Hong Kong. The Company is actively seeking legal advice in relation to the Statutory Demands and is concurrently negotiating with the Creditors for a possible settlement of the matter.