Brief: Freeman FinTech Corp Resolved To Adopt Restructuring Strategies

ARTA TechFin

20/05/2019 14:39

May 20 (Reuters) - Freeman FinTech Corporation Ltd
 0279.HK :
    * RESOLVED TO ADOPT RESTRUCTURING STRATEGIES TO FACILITATING
A
SETTLEMENT WITH ITS CREDITORS
    * RESTRUCTURING STRATEGIES INCLUDE RAISING NOT LESS THAN
HK$500
MLN AND SEEKING SUPPORT OF STRATEGIC INVESTORS
    * BOARD TO IDENTIFY NEW VIABLE BUSINESS OPPORTUNITIES WITH
VIEW TO
DIVERSIFYING EXISTING BUSINESS PORTFOLIO
    * CO AND INVESTOR  ENTERED INTO MOU FOR CO TO  ALLOT AND
ISSUE
SUBSCRIPTION SHARES
    * UNDER MOU, CONSIDERATION FOR SUBSCRIPTION SHARES WILL
AMOUNT TO
NOT MORE THAN HK$300 MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS2d362C
Further company coverage:  0279.HK 

 ((Reuters.Briefs@thomsonreuters.com;))