Zhitong Financial APP News, * ST Mingcheng (600136.SH) issued an announcement, on October 13, 2023, after full consultation with restructuring investors, the company signed the "Wuhan Contemporary Mingcheng Culture and Sports Group Co., Ltd. Restructuring Investment Agreement" with restructuring investors and managers.
In order to solve the company's debt and operating problems and restore the company's sustainable operation and profitability, the company plans to introduce restructuring investors. After an open recruitment and selection process, Hubei Liantou City Operation Co., Ltd., Guohou Asset Management Co., Ltd., Shenzhen China Merchants Ping an Asset Management Co., Ltd., and Beijing Jiuyin Investment holding Co., Ltd., became the restructuring investors of the company, with a proposal of 601 million yuan. Obtain 612 million shares of the company (finally confirmed by the actual registration of the Shanghai branch of China Securities Registration and Clearing Co., Ltd.).
The company said that the signing of the "restructuring Investment Agreement" is a necessary part of the company's restructuring process, which is conducive to promoting the smooth progress of the company's restructuring related work. If the follow-up restructuring process of the company is carried out smoothly, it will help to improve the company's financial structure and resolve the debt crisis, and at the same time restore and enhance the company's sustainable operation and profitability after the addition of new shareholders, and promote the company to embark on the track of healthy development.
After the completion of this restructuring, the controlling shareholder and the actual controller of the company are expected to change, the controlling shareholder of the company may be changed to United Investment City Transportation, and the actual controller of the company may be changed to the State-owned assets Supervision and Administration Commission of the people's Government of Hubei Province. The relevant contents of the specific implementation of the reorganization Investment Agreement shall finally be subject to the reorganization plan approved by the Wuhan Intermediate people's Court.