General Announcement::NOTICE OF RESTRUCTURING EFFECTIVE DATE AND WITHDRAWAL OF LISTING OF NOTES

Issuer & Securities

Issuer/ Manager
MODERN LAND (CHINA) CO., LIMITED
Securities
MODLD US$203.797M12.85%N211025 - XS1986632716 - PITB
MODERNLANDUS$200M11.8%N220226 - XS2110675860 - YXYB
MODERNLANDUS$250M11.5%N221113 - XS2202152703 - X6MB
MODERNLANDUSD150M11.95%N240304 - XS2127478316 - RUKB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
30-Dec-2022 22:59:55
Status
New
Announcement Sub Title
NOTICE OF RESTRUCTURING EFFECTIVE DATE AND WITHDRAWAL OF LISTING OF NOTES
Announcement Reference
SG221230OTHRJ1TX
Submitted By (Co./ Ind. Name)
Modern Land (China) Co., Limited / Zhang Peng
Designation
Chairman, President and Executive Director
Description (Please provide a detailed description of the event in the box below)
References are made to the announcements of Modern Land (China) Co., Limited (the "Company") dated 25 February 2022, 21 March 2022, 24 March 2022, 1 June 2022, 30 June 2022, 6 July 2022, 29 July 2022, 5 August 2022, 12 August 2022, 26 August 2022, 9 September 2022, 23 September 2022, 7 October 2022, 14 October 2022, 4 November 2022, 11 November 2022, 18 November 2022, 25 November 2022, 30 November 2022, 2 December 2022, 9 December 2022 and 29 December 2022 in relation to, among other things, the Proposed Restructuring with respect to the Existing Notes. Terms used in this Notice have the same meaning as in the explanatory statement (the "Explanatory Statement") relating to the scheme of arrangement under section 86 of the Cayman Islands Companies Act (2022 Revision) between the Company and the Scheme Creditors (the "Scheme").

The Company is hereby pleased to announce that:

(i) each of the Restructuring Effective Date Conditions has been satisfied and the Restructuring Effective Date occurred on 30 December 2022 (Hong Kong Time);

(ii) on the Restructuring Effective Date, the following New Notes have been issued by the Company:

(i) New 2023 Notes (ISINs: XS2502821684 (Rule 144A); XS2500896860(Regulation S) and XS2502824431 (IAI));
(ii) New 2024 Notes (ISINs: XS2502824944 (Rule 144A); XS2500897678(Regulation S) and XS2502825164 (IAI));
(iii) New 2025 Notes (ISINs: XS2502825594 (Rule 144A); XS2500898486(Regulation S) and XS2502825834 (IAI));
(iv) New 2026 Notes (ISINs: XS2502826725 (Rule 144A); XS2500899294(Regulation S) and XS2502827616 (IAI)); and
(v) New 2027 Notes (ISINs: XS2502827889 (Rule 144A); XS2500899880(Regulation S) and XS2502828267 (IAI));

(iii) the New Notes are expected to be listed on SGX-ST on or around 3 January 2023;

(iv) the Global Notes representing the Existing Notes (ISINs: XS1986632716,XS2110675860, XS2202152703, XS2277613423 and XS2127478316 (Regulation S)) are in the process of being cancelled;

(v) the Bar Date, which is the final deadline for submission to the Information Agent of duly completed documentation necessary to receive the Residual New Notes during the Holding Period in accordance with the terms of the Scheme, will be 19 May 2023, being 140 days after the Restructuring Effective Date. Any Scheme Creditor that has not already done this should refer to the documents available on the Transaction Website and,in particular, the Account Holder Letter for further details; and

(vi) the Holding Period shall expire on 13 June 2023, being 165 days after the Restructuring Effective Date, which date is the latest date on which the Scheme Consideration can be distributed in accordance with the terms of the Scheme.

Attachments

Tenacity Announcement Notice of RED having occurred SGX 30122022.pdf
Total size =264K