Country Garden’s board approved issuing 36 million additional work-fee shares under its general mandate to help settle outstanding restructuring work fees owed to the CoCom steering committee. The shares will be issued to GLAS HK at an issue price of HKD 0.30 per share. Country Garden previously issued 135.59 million work-fee shares, but disposal proceeds were not expected to fully cover up to USD 8.21 million in CoCom work fees. Completion is conditional on Hong Kong’s Listing Committee approving the listing and trading of the additional shares.

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