The Shimao Group issued a further announcement on 10 April 2024, referring to the previous announcement of 8 April and referring to the same term definitions. The Company may apply for an authorisation order to the High Court based on the progress of its overseas restructuring and further notice will be made to shareholders and investors in due course. The company emphasises that it cannot guarantee that it will apply for an authorisation order or a higher court will grant an authorisation order. If the recognition order is not applied for or granted, and the company is eventually liquidated as a result of the petition, the transfer of shares from April 5, 2024 will be void. Shareholders and potential investors should note that the filing...Show More

The Shimao Group issued a further announcement on 10 April 2024, referring to the previous announcement of 8 April and referring to the same term definitions. The Company may apply for an authorisation order to the High Court based on the progress of its overseas restructuring and further notice will be made to shareholders and investors in due course. The company emphasises that it cannot guarantee that it will apply for an authorisation order or a higher court will grant an authorisation order. If the recognition order is not applied for or granted, and the company is eventually liquidated as a result of the petition, the transfer of shares from April 5, 2024 will be void. Shareholders and potential investors should note that the filing of the liquidation petition does not constitute a successful liquidation of the company by the petitioner, and as of the date of the announcement, the High Court has not issued a liquidation order. The first hearing is scheduled for 26 June 2024. The Company reminds shareholders and potential investors to exercise caution when trading securities.