Summary by Moomoo AI
Dongyue Group Limited (the “Company”) announced on 26 February 2024 that its restructuring plan with Xinhua United Holdings has been approved at a creditors' meeting and has been approved by the Court of China. The share repurchase and sale transactions previously referred to in the Company's Circular of 30 November 2023 and the Notice of Results of the Extraordinary General Meeting of 18 December 2023, the completion of which has been partially fulfilled, including the conditions for the share repurchase (i), (ii) and (iii) and the conditions for the share sale transaction (ii); and (iii)。 We expect other conditions to be met or waived on or before the deadline. Upon completion of the share repurchase, the Company will make a further announcement. The members of the Board of Directors, including Executive Directors Zhang Jianhong, Fu Jun, Wang Weidong, Zhang Zhifeng, Zhang Jian, as well as Independent Non-Executive Directors Ding Lianghui, Yang Xiaoyong, Ma Zhizhong, are responsible for the accuracy of the announcement.