The restructure plan approved nbsp; ningdong railway 3 200 million into the *ST Canton in summer

Whole plans was court approved ningdong railway 320 million master *ST wide summer ⊙ reporter Qun Huang 0 edit zhujianhua reforming process lasted a years, funded people interest adjustment programme two times was rejected Hou, as court a paper "strong Conference" book of comes, *ST wide summer recombinant finally ushered in dawn. company recombinant Fang Ningdong railway will provides 320 million Yuan recombinant funds, and intends through directed issuance, way to company injected net assets assessment value does not below 4 billion yuan of quality assets.　　*ST-Canton summer today disclosed that company managers received on December 9, made by the intermediate people's Court in yinchuan city, order final approval and ruled that terminate the company's restructuring program. This means, the Court ultimately adopted "strong start" approach has saved the company, *ST-canton is by way of public auctions of all assets turned a "clean" company, wait-Nanjing East railway restructuring. Under the restructuring plan, *ST wide summer first Peel
Away from assets, then introduced recombinant party, to recombinant party by let shares Hou to company injected quality assets. for this, company said, will through open auction, way disposal existing all assets, in reforming plans according to law implementation finished Hou, will company existing all assets split. and developed of recombinant Fang Ningdong railway and associated party be to company provides about 320 million Yuan, for paid reforming costs, and total Yi debt and settlement claims,. then, ningdong railway will through directed issuance, way to *　　ST wide net assets rating of not less than $ 4 billion summer into good assets and reformed net profits of listed company after three years in a row aggregate is not less than $ 1 billion, enabled the company to resume sustained viability and profitability as soon as possible. According to the investor interest had twice been rejected adjustment programmes, Zhejiang long gold industry limited (or its assignee) 70% shares delivered to restructure, the remaining shareholder number more than 500,000 shares of parts delivered 18%, 500,000 shares
Following (containing 500,000 unit) of part let crossing 12%, all shareholders total let crossing 100.4302 million unit. due to the interest adjustment programme two times was rejected, makes company reforming process a drag then drag. Despite two times funded people meeting vote are is not through the interest adjustment programme, but from related provides see, as long as funded people group super majority agreed reforming plans, and General claims of settlement rate far above liquidation background Xia of settlement proportion, Court on can considered approved reforming plans, is usually people by said of "strong Conference". *　　Summer two investor conferences in ST-Canton voting results have been more than half of strong CD is feasible.　　It is understood that the *ST wide and reforming and monitoring the implementation of the plan period in summer period is 6 months from yinchuan intermediate people's court approves the restructuring plan from the date of the calculation. restructuring costs the company about $ 35 million, co-benefits of debt of about $ 4 million, and co-benefits of debt restructuring costs are subject to actual results. *ST-Canton