Summary by Moomoo AI
Sino oil & gas announced on June 19, 2024 that the final deadline for reorganization and cleansing exemption has been extended from April 30, 2024 to August 31, 2024. This decision was made based on the company's announcement on May 13, 2024, taking into account the complexity of the Crescent Spring approval process, and the fact that four months is a reasonable time to monitor the progress of the reorganization transaction. The company has appealed against the rejection of the creditor plan by the Hong Kong High Court on May 6, 2024. The company will update the progress of the reorganization and cleansing exemption every month, and consider further extending the final deadline depending on the situation. The completion of the reorganization transaction still requires the fulfillment of several prerequisites, including obtaining cleansing exemption and approval from the Stock Exchange. Shareholders and potential investors should act prudently and seek professional advice if in doubt.
