Core Viewpoint - China Development Holdings (00475) has announced a loan capitalization agreement with Han Hai Capital, allowing the latter to subscribe for 87.5 million capitalization shares at a price of HKD 0.4 per share, which will help the company settle part of its existing debts without utilizing current financial resources [1] Group 1: Loan Capitalization Agreement - The agreement involves China Development Holdings, Mr. Hu Yangjun as the creditor, and Han Hai Capital as the subscriber [1] - Han Hai Capital will subscribe for 87.5 million capitalization shares, which represents approximately 21.23% of the total issued shares as of the announcement date [1] - The total subscription price for the capitalization shares will be settled through capitalization and offsetting part of the loan after the loan capitalization is completed [1] Group 2: Financial Implications - The company currently lacks the ability to repay the amounts owed to Mr. Hu without tightening existing financial resources [1] - The loan capitalization allows the company to clear part of its existing liabilities while avoiding cash outflows [1] - After the issuance of the capitalization shares, the enlarged total issued shares will represent an increase of approximately 17.51% assuming no changes in the total issued shares from the announcement date until the completion of the loan capitalization agreement [1]
中发展控股(00475)拟向瀚海资本发行8750万股资本化股份