Jinshi Investment Group (00901) issued an announcement relating to the winding-up petition initiated against the company and the joint appointment of the company...
Zhitong Finance App News, Jinshi Investment Group (00901) issued an announcement regarding the winding-up petition initiated by the company and the appointment of the company's joint and individual liquidators. The liquidator announced that on March 28, 2024, the company and two potential investors (collectively referred to as “potential investors” and “each potential investor”) entered into two non-binding letters of intent.
The content of the letter of intent relates to the group's potential restructuring, which includes raising capital and settling the company's debts in accordance with the arrangement plan. The purpose of this restructuring is to resume trading of shares on the Stock Exchange (the “Proposed Reorganization”).
According to the letter of intent, the company may disclose confidential information to potential investors for the purpose of due diligence on the Group. The Company and potential investors will use their best efforts to negotiate in good faith and enter into a binding agreement on the proposed restructuring as soon as reasonably practicable and in any case on April 30 (or later) 2024. (May be agreed by the company and potential investors). As a letter of intent is not legally binding in nature, a potential investor is under no obligation to enter into any binding agreement with the company, and the company or each potential investor has the right to terminate the letter of intent at any time.
The liquidator believes that potential investors will provide the Group with a good opportunity to ease its financial situation, which is the key to meeting the conditions for resuming trading and resuming stock trading on the Stock Exchange. The terms of the letter of intent are determined after fair negotiations between the company and each potential investor. The liquidator believes that the possible transaction was concluded under normal commercial terms, and that the terms of the letter of intent were fair and reasonable, and in line with the overall interests of the company and its shareholders.