Summary by Futu AI
Sino Oil & Gas Holdings Limited (the "Company") announced on June 19, 2024 that the final deadline for the restructuring and exemption has been extended from April 30, 2024 to August 31, 2024. This decision is based on the Company's announcement on May 13, 2024, taking into account the complexity of the Crescent Spring approval process, and the belief that a four-month extension is a reasonable time to monitor the progress of the restructuring transaction. The Company appealed the decision to reject the creditor's plan in the Hong Kong High Court on May 6, 2024. The Company will update the progress of the restructuring and exemption on a monthly basis, and will consider further extension of the final deadline depending on the circumstances. The completion of the restructuring transaction still requires the satisfaction of several conditions precedent, including obtaining exemptions from cleansing and approval of relevant share listing by the Stock Exchange of Hong Kong. Shareholders and potential investors of the Company should exercise caution and seek professional advice if in doubt.