Brief: North Mining Shares Says It Entered Restructuring Deal With Liquidators And Huatune Corp
21/02/2023 15:13
Feb 21 (Reuters) - North Mining Shares Co Ltd 0433.HK :
* CO, LIQUIDATORS AND HUATUNE CORP ENTERED CONDITIONAL
RESTRUCTURING AGREEMENT
* TRADING IN CO'S SHARES ON STOCK EXCHANGE WILL CONTINUE TO
REMAIN
SUSPENDED UNTIL FURTHER NOTICE
* HUATUNE CORPORATION TO SUBSCRIBE FOR 256.4 MILLION NEW
SHARES OF
CO AT SUBSCRIPTION PRICE OF HK$0.156 PER SHARE
* TOTAL ESTIMATED INDEBTEDNESS, OTHER THAN EXCLUDED CLAIMS
OWED TO
CREDITORS WAS HK$1.73 BILLION
* CO PROPOSES TO CONSOLIDATE EVERY 20 SHARES OF PAR VALUE
HK$0.016
INTO 1 CONSOLIDATED SHARE OF HK$0.32 EACH
* UNDER SCHEME, CREDITORS WITH ADMITTED CLAIMS WOULD BE
ENTITLED
TO GET UP TO 11.09 BILLION SCHEME SHARES
Source text for Eikon: ID:nHKS8gqDlZ
Further company coverage: 0433.HK
((Reuters.Briefs@thomsonreuters.com;))
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