Fantasia Holdings Group Co., Limited will convene an extraordinary general meeting (EGM) on 15 May 2026 in Shenzhen to request shareholder approval for a comprehensive debt-and-equity restructuring package designed to support its ongoing scheme of arrangement.
Key proposals to be tabled:
1. New Share Issuances • Scheme Creditor Shares: issuance of 5.14 billion new shares at HK$1.52 each to scheme creditors. • Scheme Fee Shares: issuance of 1.54 billion new shares at HK$0.10 each to subscribers as scheme fees. • Capitalisation Shares: issuance of 4.38 billion new shares at HK$0.30 each to a designated subscriber for debt-capitalisation purposes.
2. Debt Instruments • Mandatory Convertible Bonds (MCB): US$0.50 billion principal amount, convertible at HK$1.52 per share. • Short-Term Notes (STN): US$0.63 billion principal amount. • Long-Term Notes (LTN): US$0.81 billion principal amount. – Aggregate principal across the three instruments totals US$1.94 billion, all to be issued to scheme subscribers.
3. Capital Base Expansion • Authorised share capital to rise from HK$800 million (8.00 billion shares at HK$0.10 par value) to HK$3.00 billion (30.00 billion shares at HK$0.10 par value).
4. Share Consolidation • Consolidation of every five existing shares into one consolidated share of HK$0.50 par value. • Post-consolidation, authorised capital will comprise 6.00 billion consolidated shares of HK$0.50 each, maintaining the HK$3.00 billion authorised amount. • Fractional consolidated shares will be aggregated and, if possible, sold for the Company’s benefit.
Shareholders will vote separately on each resolution; failure to mark a voting preference will authorise the appointed proxy to decide at discretion. The proxy form must be lodged with Computershare Hong Kong Investor Services by the deadline set 48 hours before the meeting.
If all resolutions pass, Fantasia will significantly expand its share base, convert substantial debt into equity-linked instruments, and streamline its capital structure through consolidation, positioning the company for the next phase of its restructuring plan.