Summary by Moomoo AI
Sino Oil & Gas Holdings Limited announced that the letter concerning the restructuring transaction and waiver of the clearance to be sent to shareholders by September 9, 2024 will be further delayed. This delay is due to the company awaiting the result of the appeal hearing on September 13, 2024 by the Hong Kong court regarding the creditors' plans, which may affect the terms of the restructuring transaction. If the appeal is unsuccessful, the company may need to negotiate with the relevant parties to modify the terms and consider signing a supplemental agreement or terminating the existing agreement. The company has applied for and received preliminary consent from the executor to extend the time for sending the letter until September 20, 2024 or earlier. Any further changes will be notified through announcements. The board of directors takes responsibility for the accuracy of the announcement, confirms that the opinions expressed after reasonable inquiries have been considered carefully, and no facts have been omitted.
