General Announcement::NOTICE OF RESTRUCTURING EFFECTIVE DATE

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
29-Dec-2022 21:37:07
Status
New
Announcement Sub Title
NOTICE OF RESTRUCTURING EFFECTIVE DATE
Announcement Reference
SG221229OTHRT0XR
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 and 9 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) by an order dated 5 July 2022, the Court sanctioned the Scheme (the "Scheme Sanction Order"), and a sealed copy of the Scheme Sanction Order was filed with the Registrar of Companies in the Cayman Islands on 5 July 2022 (Cayman Islands time);

(ii) by an order dated 18 July 2022, the US Bankruptcy Court Southern District of New York recognised the Scheme (the "Chapter 15 Recognition Order") as a foreign main proceeding and gave effect to certain related relief under Chapter 15 of the US Bankruptcy Code. The Chapter 15 Recognition Order is available on the Transaction Website;

(iii) the Majority Consenting Creditors have consented to an extension of the Longstop Date in accordance with the terms of the Scheme and the RSA to 30 December 2022, or such later date as the Company may elect to extend to with the prior written consent of the Majority Consenting Creditors. The Restructuring Effective Date is anticipated to occur on 30 December 2022, subject to the satisfaction or waiver of the Restructuring Effective Date Conditions in accordance with the terms of the Scheme; and

(iv) this Notice is circulated for the purpose of clause 9.4 of the Scheme.

Attachments

Tenacity Announcement Notice of upcoming RED 1229 SGX.pdf
Total size =244K