Evergrande Automobile: Share trading will resume from tomorrow, Newton's second and third fund payments will be suspended

According to this site’s news on October 8, Evergrande Automobile issued an announcement announcing that it has applied to the Stock Exchange to resume trading of the company’s shares starting from 9:00 am on October 9.

This site learned from the announcement that Evergrande Motors announced the suspension of trading of its shares on September 28. Together with a series of recent changes in China Evergrande Group, there are major uncertainties, which will also creates significant uncertainty regarding the share subscription agreement and the proposed transaction.

According to the share subscription agreement, the completion of Evergrande Group’s debt restructuring and a series of other prerequisites are very important prerequisites for delivery. In this case, the subscriber shall suspend the performance of the relevant obligations in the share subscription agreement.

According to the transition period financial support agreement, due to the current situation that causes the prerequisites under the share subscription agreement to be unable to be met, Newton (fund provider) has requested Evergrande New Energy Vehicle (Tianjin) Co., Ltd. (funding) Recipient) The prerequisites for payment of the second and third funds are not met, and the fund provider is temporarily not obliged to pay the second and third funds to the fund recipient.

Evergrande Automobile sent a reply letter to the subscriber on October 5, expressing its willingness to renegotiate with the subscriber on the adjustments required for the proposed transaction plan.

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