January 19, 2018 / 10:39 AM / 6 months ago

BRIEF-Leshi Internet Information Takes Measures To Settle Debt Issues

Jan 19 (Reuters) - Leshi Internet Information & Technology Corp Beijing:

* SAYS THE COMPANY HAS BEEN TRYING TO SETTLE ITS DEBT PROBLEMS TO RESOLVE LIQUIDITY ISSUES AND ENSURE THE COMPANY IS OPERATING NORMALLY, CLARIFYING MEDIA REPORTS

* SAYS IF SHARE PRICE FALLS SHARPLY AFTER TRADE RESUMPTION AND IF OWNER JIA YUETING IS UNABLE TO PROVIDE ADDITIONAL COLLATERAL, THEN THAT COULD RESULT IN OWNERSHIP CHANGES

* SAYS COMPANY WILL TAKE MEASURES TO PREVENT JIA AND RELATED PARTIES FROM SELLING AUTO-RELATED ASSETS SUCH AS FARADAY FUTURE, LUCID

* SAYS TO DATE, JIA HAS 1.024 BILLION SHARES, OR 25.67 PERCENT STAKE, IN THE COMPANY, OUT OF WHICH 1.0195 BILLION SHARES HAVE BEEN PLEDGED TO FINANCIAL INSTITUTIONS

* SAYS AS OF DEC 31 2017, THE COMPANY HAS FINANCIAL LOANS AND LOAN LIABILITIES TOTALLING 9.288 BILLION YUAN ($1.45 billion), PART OF WHICH WILL BE DUE IN 2018 Source text in Chinese: bit.ly/2Dq7cSK; bit.ly/2EWzRuJ Further company coverage: ($1 = 6.3975 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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