Summary by Moomoo AI
China Ocean Garden Group Co., Ltd. (“China Ocean Garden”) announced that the Company and its subsidiary Add Hero have met all the restructuring conditions and set the effective date of March 20, 2024. THIS RESTRUCTURING INVOLVES THE PAYMENT OF ALL RESTRUCTURING SUPPORT AGREEMENT FEES (CASH PORTION) TO BE FURTHER DISTRIBUTED TO THE RELEVANT UNSANCTIONED SCHEME CREDITORS. After the reorganization takes effect, the associated plan cost benefits will be distributed beginning on the next business day, and the distribution process may take several business days. THE COMPANY REMINDS SHAREHOLDERS AND INVESTORS TO EXERCISE CAUTION WHEN TRADING SECURITIES AND ADVISES TO SEEK PROFESSIONAL ADVICE IF THEY HAVE ANY QUESTIONS. The Company's Board of Directors will issue another announcement on the effective date of the reorganization.