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BRIEF-Sky Solar announces results of investigation into conduct of former CEO
September 19, 2017 / 11:22 AM / 3 months ago

BRIEF-Sky Solar announces results of investigation into conduct of former CEO

Sept 19 (Reuters) - Sky Solar Holdings Ltd

* Sky Solar announces results of investigation into conduct of former CEO and settlement agreement with former CEO

* Sky Solar Holdings - ‍independent committee of board concluded investigation into conduct of Weili Su, former CEO and former chairman​

* Sky Solar - ‍on Sept 19, entered settlement agreement with Su to resolve all potential claims by co against Su and certain entities controlled by him​

* Sky Solar Holdings Ltd - ‍ under this agreement, Su agrees to pay back to company approximately US$15 million​

* Sky Solar - ‍Dahui lawyers concluded that some deals, fund transfers between co, certain entities controlled by Su were not approved by board

* Sky Solar - ‍Su agreed to pay back to co about $15 million as per terms of deal

* Sky Solar-under agreement,various debt assignment deals signed among co,certain third parties,entities controlled by Su in April 2017 shall have no effect Source text for Eikon: Further company coverage:

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