*ST Intercontinental (600759.SH) issued an announcement. On November 21, 2023, the company received it from Haikou...
According to the Zhitong Finance App, *ST Intercontinental (600759.SH) issued an announcement. On November 21, 2023, the company received one of the “Civil Rulings” from the Haikou Intermediate Court (2023) of Qiong 01 over 36, ruling to approve the company's restructuring plan and terminate the company's restructuring process. The company's restructuring plan has entered the implementation stage. According to the “Reorganization Plan”, based on the company's current total share capital of 2,264 billion shares, the capital reserve fund was transferred to shares at a ratio of about 8.33 shares for every 10 shares, for a total transfer of about 1,886 billion shares.
The 1,886 million shares transferred above will not be distributed to the original shareholders; all will be distributed and disposed of in accordance with the provisions of this restructuring plan. Among them: 802 million shares of the shares formed from the transfer will be used to pay off the debt of Intercontinental Oil and Gas; 1,083 million shares of the shares formed from the transfer will be transferred by the restructuring investors in accordance with the regulations of the restructuring plan.