CA Cultural Technology Group Ltd. (HK:1566) has released an update.
CA Cultural Technology Group Ltd. has announced the sanctioning of the Creditors’ Scheme by the High Court of Hong Kong, a key step in their Proposed Restructuring, which aims to alleviate the company’s liquidity pressures and resolve legal issues through a Deed of Settlement. The company is addressing regulatory feedback and finalizing documents necessary for the restructuring, leading to a delay in circulating the relevant information to shareholders. This delay affects the timetable for the capital reorganisation and the change in board lot size, with further updates to be provided in compliance with the Takeovers Code.
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