General Announcement::Entering into MOUs of possible subscriptions of new shares of the Issuer and resumption of trading

Issuer & Securities

Issuer/ Manager
PANDA GREEN ENERGY GROUP LIMITED
Securities
PANDAGREENUSD250M8.25%N200125 - XS1512652600 - 67RB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
27-Dec-2018 20:15:53
Status
New
Announcement Sub Title
Entering into MOUs of possible subscriptions of new shares of the Issuer and resumption of trading
Announcement Reference
SG181227OTHRL2KH
Submitted By (Co./ Ind. Name)
LAI Ka Ki
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Issuer wishes to announce that, on 26 December 2018, the Issuer entered into five non-legally binding memoranda of understanding with Huaqing Solar Power Limited ("Huaqing") and four shareholders of the Issuer respectively, pursuant to which the Issuer intends to allot and issue and each of Huaqing, China Merchants New Energy Group Limited, China Huarong Overseas Investment Holdings Co., Limited, ORIX Asia Capital Limited and Asia Pacific Energy and Infrastructure Investment Group Limited (collectively, the "Subscribers") intends to subscribe for not more than 3,207,750,000 new shares of the Issuer (the "Shares"), 1,351,992,566 new Shares, 938,054,087 new Shares, 685,889,866 new Shares and 357,396,814 new Shares respectively at the subscription price of HK$0.30 per Share. The Issuer and the Subscribers will further negotiate for the exact numbers of subscription shares which will be determined in the formal subscription agreements.
The Company has applied to The Stock Exchange of Hong Kong Limited for the resumption of trading in the Shares of the Issuer with effect from 9:00 a.m. on 28 December 2018.
More details can be found in the attached announcement.

Attachments

ew_00686ann-27122018.pdf
Total size =90K