Haotian Investment To Become "New Owner"

By the end of July,

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The joint announcement of the Hongkong Stock Exchange announced that the two sides have signed a reorganization agreement, Haotian investment (China) Limited (hereinafter referred to as "Haotian investment") instead of Rome family (Tianjin).

Clothing Sales Co., Ltd. become a new reorganization party, Haotian investment will invest about 151 million retained the assets of Nash and get 51% of the total share capital of NASH.

The announcement pointed out that investors' changes need to be approved by the Quanzhou court.

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The settlement plan remains unchanged.

Wang Haijun, a lawyer of the law firm, said that the investment in Haotian will amount to 151 million yuan, which is the same as the investment approved by the Rome family under the reorganization agreement. The reorganization plan has not changed and the liquidation rate has been consistent.

According to the joint announcement, 151 million of the investment includes equity investment and asset investment, of which 80 million yuan is used to earn 51% of the 51% odd assets, and 70 million 583 thousand of the assets retained for investment include land use rights, property and other office equipment.

After the completion of the reorganization agreement, Haotian investment will make a comprehensive offer to the group. The offer price will be HK $0.5626 per share and 0.4835 yuan per share of domestic shares, which is about 43.7% less than the closing price of HK $1 before the suspension.

The estimated value of domestic stocks is 66 million 960 thousand yuan, and the valuation of H-share offer is HK $90 million 460 thousand. Haotian investment will allocate the total amount of the offer with internal resources or bank loans.

After the offer is closed, Haotian investment intends to continue to operate the main business of the company and submit a proposal to the stock exchange for the resumption of the deal.

At present, Haotian investment has already paid 6 million security deposit, and provided 5 million yuan loan as the working capital of the company.

Quanzhou's first case of judicial reform was used to resolve the crisis. In January this year, the creditors' meeting adopted a draft of the reorganization plan, declaring the substantive progress.

According to reports, in the process of reorganization, the original reformer Rome family failed to pay the investment amount at the appointed time.

To ensure the realization of the reorganization plan, Haotian investment, which has strong economic strength and professional ability, has been replaced by the original Rome family company as a new reformer through various efforts.

Since the adoption of the Nash reorganisation case, the Quanzhou Municipal Intermediate People's court, the Municipal Commission of letters, the Financial Bureau, the banking regulatory bureau and other departments have worked together to overcome the problem that the case involves two legal systems in China and Hongkong, and no successful precedents in the country can be used for reference. On the one hand, the new reorganization party actively manages the related problems left by the company. On the other hand, it quickly forms the Hongkong resumption team, actively communicates with Hongkong Securities Association, combs the company's management structure, and draws up the company's development strategy, which has done a lot of basic work for the successful reorganization, upgrading of operational capacity and listing and resumption of the business.

If the reorganization is successful, it will enable Fujian's troubled July 2014 to avoid bankruptcy and liquidation. It not only retains the interests of the employees, but also retains some debts owed by the creditors, and helps many of the business managers who are sticking to the trend to revive their confidence in their brand value and influence.

Haotian investment is a wholly owned subsidiary of Haotian development. Haotian development was listed on the main board of Hongkong stock exchange in June 2006. It is a comprehensive investment enterprise, including financial services, securities investment, big health industry investment, etc., with net profit of HK $450 million and net asset value of HK $6 billion 800 million in 2015.

Since its establishment, the company has been involved in several major projects, as well as the acquisition and acquisition of multiple potential projects, and has accumulated rich experience.

Haotian development announced on the 27 listed announcement that the acquisition of the company could diversify the company's business and, on the other hand, expand the source of revenue.

According to the public announcement issued by the group in January, the company has been listed in the first stage of the listing procedure of the stock exchange.

However, Haotian investment still expressed the confidence to help the "regeneration".

According to the reorganization agreement, the next step is to invest in Haotian investment and provide financial support for the operation of the company.