Embattled property developer China Evergrande Group on Wednesday resolved to delay its meetings for the Hong Kong CEG class A and class C holders of debt to provide them more time to consider its fresh restructuring plan.
The company adjourned its meetings for the creditors to Aug. 28. The meeting will consider the $3.2-billion restructuring plan that was unveiled on Monday to reduce debt and stay afloat.
The deadline for the submission (or resubmission) of the relevant forms to vote on the schemes and attend the adjourned meetings has been extended to 5 p.m. (Hong Kong time) on Aug. 23.
Trading in the company’s shares, which were suspended on March 21 last year, will remain suspended until further notice, the company said.