Yida China (03639) announced that the company has not applied for any recognition order yet, due to (1) the lack of strict...
According to the announcement released by Yida China (03639) on Zhitong Finance APP, the company has not yet applied for any recognition orders. There are two reasons for this: (1) there are no strict provisions requiring the company to seek recognition orders for the transfer of shares; and (2) no shareholder has requested recognition orders. As for the potential impact of the application, the Board of Directors will consider whether it is necessary to apply for a recognition order from the High Court after considering and applying relevant legal procedures in the subsequent stage. The High Court has set the date of the first hearing on the application for August 14, 2024. The application has been filed with the High Court, but only as an application for the liquidation of the company. As of the date of this announcement, the High Court has not issued any liquidation order to liquidate the company. The company is seeking legal advice to determine the follow-up actions and possible actions to be taken with respect to the application.
In addition, the company's shares remain suspended from trading.