VIP Bird Major Shareholders Will Lose 5.25% Equity!

On August 6, * ST nobleman announced that due to two failed auctions of 33 million shares of * ST, Xiamen intermediate people's court ruled that it should pay Xiamen International Trust for compensation at a reserve price of 139 million yuan, equivalent to 4.2 yuan per share. The noble bird group raised an objection to the above execution. The latest development of Fujian Provincial Supreme People's court for reconsideration was rejected.

(screenshot of official website)

It is reported that as of August 6, the noble bird group held 44911.5 million shares of * ST noble, accounting for 71.45% of the total share capital of * ST noble, and Mr. Lin Tianfu was the actual controller of * ST noble. After the ruling takes effect, the majority shareholder will lose 5.25% of the equity.

In response, * ST said that the ruling will not lead to changes in controlling shareholders and actual controllers, nor will it affect the normal production and operation of * St.

As of August 6, all the shares of * ST Guiren held by noble bird group have been pledged or frozen, of which 396.5473 million shares are frozen, accounting for 63.08% of the total share capital of * ST noble. The noble bird group is actively negotiating with relevant creditors to try to lift the judicial freeze on the shares of * ST noble as soon as possible. However, if it is not handled properly in time, there is still a risk that the shares may continue to be subject to judicial disposal.

*St noble was applied for arbitration because of the outstanding debts of RMB 152 million

On the evening of August 4, * ST announced that since * ST failed to repay the principal and interest of 148 million yuan of Bank of China Limited Jinjiang Branch (hereinafter referred to as "Bank of China") on schedule, the Bank of China filed an arbitration application with Quanzhou Arbitration Commission and was accepted.

According to the announcement, the amount is a short-term working capital loan provided by the Bank of China to * ST in December 2019. It is worth noting that prior to the lawsuit, * ST nobles disclosed that due to liquidity constraints, * ST nobles failed to repay the principal and interest of loans of various banks on schedule, and the total loan principal of RMB 1.41 billion in each bank was overdue.

In this regard, * ST dignitaries said that in the short term, * ST dignitaries have great difficulties in repaying the loan principal and interest of various financial institutions. At present, * ST is cooperating with relevant parties to communicate with creditors, and strive to reach an agreement with creditors on the debt settlement plan as soon as possible. If the debt can not be settled, * ST will continue to face litigation, arbitration, assets frozen and other uncertainties in the future.