China Metal Resources Utilization Ltd. (HK:1636) has released an update.
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China Metal Resources Utilization Ltd has announced a proposed issue of convertible notes at a principal amount of RMB400 million, which, if fully converted, would account for approximately 19.25% of the enlarged issued share capital. The new shares from the conversion will rank equally with current shares, and the company is seeking shareholder approval at an Extraordinary General Meeting (EGM). The completion of this agreement is subject to certain conditions, including the resumption of trading on the Hong Kong Stock Exchange.
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