Summary by Moomoo AI
Sino Oil & Gas Holdings Limited has updated its latest progress on restructuring and clean waivers. The company has released relevant information on multiple dates and announced on July 31, 2024 that it will appeal the decision of the Hong Kong court to reject the creditors' plan. The appeal hearing is scheduled for September 13, 2024. The company is negotiating with Crescent Spring and other investors to explore the possibility of amending the terms of the restructuring transaction to address issues raised by the court, including the company's debt issues to investors after the completion of the restructuring and the potential benefits that investors may receive. The company promises to update the progress monthly and will release further announcements after the appeal hearing. Board members are responsible for the accuracy of the announcement and confirm that there are no omissions after reasonable inquiries.
