Brief: China Huarong Energy posts Says HY gross loss of RMB4.03 billion

China Huarong Energy Co

30/08/2016 23:49

Aug 31 (Reuters) - China Huarong Energy Co Ltd  1101.HK : 
 * Board has resolved not to declare the payment of an interim dividend for the 
   year 2016 
 * Says HY gross loss of RMB4.03 billion 
 * Says for HY group recorded a negative revenue of RMB3.48 billion 
 * Plans to reduce its borrowings by issuing shares of the company to satisfy 
   certain of the group's outstanding debts 
 * Disposal of liabilities and the subscriptions will enable the group to ease 
   its debt burden immediately 
 * To enter into bank creditor subscription agreements to subscribe for, up to 
   14.11 billion shares at hkd1.20 per share 
 * Material uncertainties may cast significant doubt about the group's 
   ability to continue as a going concern" 
 
 * Source text for Eikon  ID:nHKS9NYhYP  
 
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