May 7, 2020 / 3:08 PM / a month ago

BRIEF-Forgame Holdings Updates On Independent Investigation In Relation To Internet Micro-Credit Business

May 7 (Reuters) - Forgame Holdings Ltd:

* FORGAME HOLDINGS UPDATES ON INDEPENDENT INVESTIGATION IN RELATION TO INTERNET MICRO-CREDIT BUSINESS

* COMMITTEE REPORTED THERE WERE DEFICIENCIES IDENTIFIED IN INTERNAL CONTROL SYSTEMS & PROCEDURES FOR INTERNET MICRO-CREDIT BUSINESS

* COMMITTEE RECOMMENDS CO ENGAGE LEGAL ADVISER AS TO PRC LAWS ON CIVIL LIABILITY OF GRANT OF TOTAL LOAN

* COMMITTEE RECOMMENDS CO COMMENCE CIVIL ACTIONS AGAINST BORROWERS IN RESPECT OF AFFECTED LOAN, AMONG OTHERS

* BOARD NOTED & ACCEPTED RECOMMENDATIONS MADE BY INDEPENDENT INVESTIGATOR AND COMMITTEE Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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