Summary by Moomoo AI
China Petroleum Holdings Limited (the “Company”) announced that it will conduct a series of restructuring transactions, including the increase of the authorized share capital, the issuance of cash convertible notes, the amendment of the terms of the Crescent Spring Notes, the acquisition of Crescent Spring Notes, the distribution of new shares and the implementation of the creditor program. The Company entered into a Subscription Agreement with Investors1 and Investor2 on 8 December 2023 for a total subscription price of HK$139,300,000 Cash Convertible Notes. In addition, the joint venture will acquire Crescent Spring Bonds and provide funds from Investor1 and Investor2. THE RESTRUCTURING TRANSACTION ALSO INCLUDES THE SALE OF 400,000,000 NEW SHARES TO NO LESS THAN SIX INDEPENDENT THIRD PARTIES AND THE ISSUANCE OF 696,500,000 NEW SHARES TO THE...Show More