Evergrande creditor's important conferences scheduled to be held on Monday (August 28) were postponed again.
According to the First Financial, the Chinese real estate developers who are trapped in a financial dilemma announced on Monday noon that the Evergrande agreement arrangement meeting will be extended until September 26.The agreement arrangement is postponed until September 25.
For this postponement, Evergrande pointed out that although the agreement arranged for the meeting was about to be held, the company and its information agent still received a number of inquiries made by Evergrande Agreement to arrange creditors to reorganize.Therefore, the company and their information agents and consultants need to continue to work to answer the questions of the agreement arranging the creditor and assist the agreement to arrange the creditor.
Evergrande believes that in such a scale and complex reorganization, all agencies at home and abroad arrange for creditors to understand the reorganization procedures and agreement arrangements.Participation and support for their informed decisions.
Evergrande's shares have officially resumed trading on Monday on Monday, and the stock price declined by more than 80 %.Evergrande said that the restoration of stocks is a new progress that the creditor's arranges are considering the proposed reorganization and agreement arrangements.Because this affects the agreement arrangement, the company has the responsibility to provide sufficient time for the agreement to arrange the progress of the progress before the agreement arranges the meeting.
The First Financial reported that according to the debt restructuring plan issued by Evergrande, in the Evergrande agreement arrangement, the second choice given is the combination of new debt and conversion.In addition to some new bonds, the remaining debt is linked to the equity of the property held by Evergrande and the equity of Evergrande and Evergrande, and converted into corresponding stocks.
In view of the above factors, Evergrande stated that the claimers should be extended by the agreement to consider, understand and evaluate the terms of the terms of the agreement.
This is Evergrande's second delayed creditors' meeting.The meeting was originally scheduled to be held on August 23. Since then, it has been delayed to August 28 due to the introduction of strategic investors such as Evergrande Automobile.Evergrande said that the delay can also give creditors more time to consider Evergrande's transactions and its impact on the agreement on the agreement.
Evergrande believes that the last period of the previous implementation of the debt restructuring plan was originally scheduled to be on December 15, 2023. Although the relevant meeting of creditors will be postponed for about one month, it can still meet the overall expected timetable.It meets the expectations of creditors for reorganization.
Affected by this, the agreement arrangement for approval hearing will also be postponed.According to the debt restructuring process, Evergrande's above -mentioned agreement arrangements will be approved and approved by the relevant courts.Earlier, the Evergrande Agreement arranged for approval hearing, which was originally scheduled to be on September 1st, 5th, and 6th, and now it will also be postponed.Evergrande said that the relevant courts will be contacted by the request to arrange the approved hearing extension and re -included the schedule of the discussion after the actual feasible situation.
