China Wah Yan Healthcare (HK:0648) has released an update.
China Wah Yan Healthcare has entered into a Loan Capitalisation Agreement, conditionally agreeing to allot shares and convertible notes post-trading hours on June 13, 2024, which is contingent upon the completion of a prior restructuring agreement. The company plans to use the HK$14.8 million net proceeds for operational expenses, trading resumption, scheme costs, and working capital for its Healthcare Business. An Extraordinary General Meeting (EGM) will be convened for shareholders to approve this arrangement, which is part of a critical rescue proposal to prevent the company’s delisting.
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