top of page

Zhongliang Holdings Group Company Limited - Debt Restructuring - Scheme Meeting Updates

VOLUNTARY ANNOUNCEMENT UPDATES ON THE OFFSHORE DEBT RESTRUCTURING RESULTS OF SCHEME MEETING HELD ON 9 FEBRUARY 2024

09 FEBRUARY 2024


Full announcement including disclosures, disclaimers and offer/distribution restrictions available via Hong Kong Exchange and Clearing Company Ltd


...


The Company is pleased to announce that pursuant to the Convening Order, the Scheme Meeting was duly convened and held at the offices of Sidley Austin at 39/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong at 11:00 a.m. (Hong Kong time) on 9 February 2024.

A total of 510 Scheme Creditors holding Voting Scheme Claims (as defined in the Explanatory Statement) in the aggregate principal amount together with accrued and unpaid interest of US$1,327,333,136 (representing approximately 96.75% of the total value of outstanding Voting Scheme Claims) attended and voted, in person or by proxy, at the Scheme Meeting. During the Scheme Meeting, a total of 509 Scheme Creditors holding Voting Scheme Claims in the aggregate principal amount together with accrued and unpaid interest of US$1,315,705,636 (representing approximately 99.12% of the total value of outstanding Voting Scheme Claims voting at the meeting) voted in favour of the Scheme. As such, the Scheme was approved by the requisite majorities of Scheme Creditors.


The Company will now proceed to seek the approval and sanction of the Court in respect of the Scheme. The petition seeking sanction of the Scheme will be heard at 9:30 a.m. (Hong Kong time) on 23 February 2024.


Please note, by way of further reminder, for a Scheme Creditor to be eligible to elect to receive the New Convertible Bonds, a validly completed form must be submitted in accordance with the instructions and deadlines outlined in the documents which were circulated to Scheme Creditors ahead of the Scheme Meeting and which can be accessed on the Transaction Website."


...


 

VOLUNTARY ANNOUNCEMENT UPDATES ON THE OFFSHORE DEBTS RESTRUCTURING NOTICE OF SCHEME MEETING

16 JANUARY 2024


Full announcement including disclosures, disclaimers and offer/distribution restrictions available via Hong Kong Exchange and Clearing Company Ltd


This announcement is made by Zhongliang Holdings Group Company Limited (the ‘‘Company’’) on a voluntary basis. References are made to the announcements of the Company dated 13 November 2022, 22 November 2022, 17 February 2023, 1 June 2023, 16 July 2023, 14 August 2023, 4 September 2023, 20 November 2023 and 18 December 2023 in relation to, among other things, the Holistic Solution, the Scheme and the restructuring support agreement entered into by, among others, the Company and the AHG and the announcement of the Company dated 11 January 2024 in relation to the grant of a convening order by the Court of First Instance of the High Court of the Hong Kong Special Administrative Region of the People’s Republic of China (the ‘‘Court’’).

Unless otherwise specified, terms used in this notice have the same meanings as in the explanatory statement (the ‘‘Explanatory Statement’’) relating to the proposed scheme of arrangement between the Company and the Scheme Creditors (as defined therein) under Sections 670, 673 and 674 of the Companies Ordinance (Cap. 622) (the ‘‘Scheme’’).


Copies of the Scheme, the Explanatory Statement and the Solicitation Packet (including the documentation to be completed by or on behalf of the Scheme Creditors in order to vote and/or receive Restructuring Consideration) are available for download from the Transaction Website (https://www.dfkingltd.com/zhongliang).


NOTICE IS HEREBY GIVEN that by order of the Court dated 9 January 2024 (the ‘‘Convening Order’’), a meeting of the Scheme Creditors (the ‘‘Scheme Meeting’’) be convened for the purpose of considering and, if thought fit, approving (with or without modification) the Scheme.


FOR A SCHEME CREDITOR TO BE ELIGIBLE TO ELECT TO RECEIVE THE NEW CONVERTIBLE BONDS AS PART OF THEIR SELECTION CONSIDERATION, THEY MUST VALIDLY SUBMIT THEIR ACCOUNT HOLDER LETTER AND/OR LENDER PROXY FORM OR BLOCKED SCHEME CREDITOR FORM (AS APPLICABLE) TO THE INFORMATION AGENT OR BLOCKED SCHEME CREDITOR TABULATION AGENT (AS APPLICABLE) PRIOR TO THE ELECTION DEADLINE (BEING THE DATE FALLING SEVEN (7) CALENDAR DAYS AFTER THE SCHEME EFFECTIVE DATE). VENUE, TIME AND VIDEO AND TELEPHONE CONFERENCE AVAILABILITY FOR THE SCHEME MEETING


The Scheme Meeting will be held on 9 February 2024 at 11:00 a.m. (Hong Kong time) at the offices of Sidley Austin at 39/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong, with any adjournment as may be appropriate."


...


31 views0 comments

Comments


bottom of page