Summary by Futu AI
BAOLONG PROPERTY HOLDINGS LIMITED (THE “COMPANY”) ANNOUNCED THAT AS OF APRIL 26, 2024, MORE THAN 88% OF SCHEME CREDITORS HAD SIGNED RESTRUCTURING SUPPORT AGREEMENTS. The Agreement is intended to address the issue of outstanding principal on debt within the scope of the Company. Under the agreement, the consent fee will be paid to the eligible creditor on or before the effective date of the restructuring. The Company plans to hold a meeting of the Scheme on 18 July 2024 with the application to the High Court of the Hong Kong Special Administrative Region in order for creditors to consider and decide whether to approve the Scheme. Shareholders and investors are reminded to consider the risks involved when trading company securities and are advised to seek professional advice.