LOGAN GROUP to File for Scheme Sanction Hearing and Seek Approval for Creditor Meetings

Stock News03-31

LOGAN GROUP (03380) announced that the company intends to submit relevant documents and apply for a scheme sanction hearing to the Grand Court of the Cayman Islands and the High Court of the Hong Kong Special Administrative Region in the near future. The applications seek approval to convene meetings of scheme creditors to implement the proposed scheme of arrangement in the Cayman Islands (Cayman Scheme) and the Hong Kong scheme of arrangement (Hong Kong Scheme, collectively referred to as the "Schemes"). To allow sufficient time for the completion of the offshore debt restructuring work, and pursuant to the relevant terms of the overall CSA, the company and the creditor group have reached an agreement to extend the long-stop date (as defined in the overall CSA) to March 31, 2027.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment