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2007 — Country Garden Holdings News Story

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Brief: Country Garden Updates On Proposed Restructuring

Nov 14 (Reuters) - Country Garden Holdings Co Ltd 2007.HK:

PROPOSES RESTRUCTURING INVOLVING MULTIPLE DEALS

RESTRUCTURING AIMS TO REDUCE INDEBTEDNESS BY OVER USD11 BILLION

CO TO ISSUE  MCB (A) ISSUANCE UP TO USD7.5 BILLION AS SCHEME CONSIDERATION

CO TO ISSUE MCB (B) ISSUANCE UP TO USD5.4 BILLION AS SCHEME CONSIDERATION

COMPANY OBTAINS SUPPORT FROM CREDITORS FOR SCHEME

PROPOSES TO ISSUE UP TO 914.2 MILLION NEW SHARES FOR PAYMENT OF CERTAIN WORK FEES OWED TO EACH OF AHG, COCOM AND CB HOLDER GROUP

ON 13 NOV COMPANY AND CONCRETE WIN ENTERED INTO SHAREHOLDER LOANS EQUITISATION AGREEMENT

CGRE HAS CONDITIONALLY AGREED TO DISPOSE OF CGWF SHARES AND CIBS PREFERENCE SHARES HELD BY CGRE TO CONCRETE WIN

Further company coverage: 2007.HK

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

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