Brief: Peking University Resources (Holdings) Upates On Notification Letter From Peking Founder On Potential Change Of Control

Peking University Resources (Holdings)

03/05/2021 15:35

May 3 (Reuters) - Peking University Resources (Holdings)
Company Ltd  0618.HK :
    * UPATES ON NOTIFICATION LETTER FROM PEKING FOUNDER ON
POTENTIAL
CHANGE OF CONTROL
    * CO GOT NOTIFICATION LETTER FROM ADMINISTRATOR OF PEKING
UNIVERSITY FOUNDER GROUP ON 30 APRIL
    * HUAFA GROUP, PING AN INSURANCE (GROUP) CO, SHENZHEN
SHENCHAO
SCIENCE AND TECH ENTERED RESTRUCTURING INVESTMENT AGREEMENT
    * ZHUHAI HUAFA & PINGAN GROUP WILL ACQUIRE NO LESS THAN 73%
OF
STAKE IN NEW FOUNDER GROUP IN CASH  AT A RATIO OF 3:7
    * UNDER DEAL, MOST EQUITY, DEBT & OTHER ASSETS THAT 5 CO'S
HAVE
RIGHT TO DISPOSE OF, TO BE USED TO ESTABLISH NEW CO
    * NO MORE THAN 27% OF EQUITY INTEREST IN NEW FOUNDER GROUP
SHALL
BE USED FOR REPAYING CREDITORS
    * IF CREDITORS CHOOSE TO REPAY ENTIRELY IN CASH, INVESTORS
TO PAY
RMB73.30 BILLION TO ADMINISTRATOR OF PEKING UNIVERSITY FOUNDER
    * IF CREDITORS RETAIN DEBT AND/OR BE REPAID BY STAKE IN NEW
FOUNDER GROUP,  INVESTORS WILL PAY NO LESS THAN RMB53.725
BILLION

Source text for Eikon:  ID:nHKS7lKFlb 
Further company coverage:  0618.HK 

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