Nandu News Reporter Ye Linfang China Evergrande received additional resumption guidance from the Stock Exchange. On the evening of July 15, China Evergrande issued an announcement that the Stock Exchange issued additional resumption guidance to it: the winding-up petition (or winding-up order, if any) against the company has been withdrawn or terminated, and the appointment of any liquidator has been terminated. (temporary or not).
Previously on June 28, Evergrande announced that a petitioner filed a winding up petition against the company to the High Court of the Hong Kong Special Administrative Region on June 24, 2022. Evergrande stated that the company is taking appropriate measures to comply with the resumption guidelines and relevant listing rules.
According to the announcement, China Evergrande received additional resumption guidelines from the Stock Exchange in response to the petition on July 13, 2022: the winding-up petition (or winding-up order, if any) against the company has been withdrawn or discharged, and Any appointment of a liquidator (whether provisional or not) is discharged.
This also means that China Evergrande cannot resume listing until the winding up petition (or winding up order, if any) has been withdrawn or discharged and the appointment of any liquidator (whether provisional or not) has been discharged.
Previously on June 28, China Evergrande announced that Top Shine Global Limited of Intershore Consult (Samoa) Limited (petitioner) filed a liquidation petition against the company with the High Court of the Hong Kong Special Administrative Region on June 24, 2022, involving the amount of claims is approximately HK$862.5 million. According to the knowledge and belief of the directors of China Evergrande, the petitioner is represented by Lian Haomin.
In the announcement, China Evergrande said it would vigorously oppose the petition. In addition, China Evergrande also expects that this petition will not affect the company's restructuring plan or timetable. At the same time, Evergrande stated in the aforementioned announcement on June 28 that it expected to announce a preliminary plan for overseas debt restructuring before the end of July.
According to 21 Century Economic Report , China Evergrande Executive Director Sean responded to the liquidation petition, saying that the person who filed the liquidation petition was a strategic investor in China Evergrande’s housing trading platform Fangchebao, and its claims accounted for all of the group’s overseas claims. The debt ratio is less than 1%. Evergrande has had multiple rounds of communication with it before, but the other party still filed a liquidation petition against China Evergrande in the Hong Kong High Court on June 24.
Sean also pointed out that Evergrande has defaulted on its overseas debt. The company will treat all creditors fairly as usual, actively continue to seek reconciliation with the above-mentioned strategic investors in accordance with international practices and market rules, and put the debt under the overseas debt restructuring framework in accordance with the law. overall consideration.
The Hong Kong Stock Exchange has previously issued resumption guidelines for China Evergrande. Including, announcing all unannounced financial results as stipulated in the listing rules and resolving any matters with audit reservations; conducting an independent investigation into the enforcement of the 13.4 billion yuan pledge guarantee by the relevant banks, publishing the investigation results and taking appropriate remedial measures ; Prove that Evergrande complies with the relevant provisions of the Listing Rules and notifies the market of all important information so that shareholders and other investors can evaluate Evergrande’s situation.
Evergrande stated that the company is taking appropriate measures to comply with the resumption guidelines and relevant listing rules. At the same time, trading in the company's shares will continue to be suspended on the Stock Exchange until further notice.
The announcement also disclosed information on the recent 4.5 billion yuan bonds of Evergrande Real Estate that have not been extended. Previously, Evergrande Real Estate failed to pass the adjustment of principal and interest payment arrangement for a 3-year bond with an issuance scale of 4.5 billion yuan. China Evergrande stated that the principal and interest payment date of the bond will terminate on July 8, 2022, and Evergrande Real Estate has not paid Relevant principal and interest.
China Evergrande stated that Evergrande Real Estate will take "not escaping debt obligations" as the basic premise, actively negotiate with bondholders, and strive to reach a solution recognized by bondholders as soon as possible, and jointly resolve debt risks with the efforts of all parties. , protect the legitimate rights and interests of creditors in accordance with the law.
