SOFTMEDX (00648) Issues Approximately 16.3 Million Scheme Shares at 96% Discount

Stock News

03/10

SOFTMEDX (00648) announced that, due to a continued deterioration of its financial condition since trading was suspended, the company resolved in 2023 to proceed with a debt restructuring via a scheme. In December 2023, the scheme was registered with the Companies Registry and became effective. To fulfill the scheme's requirements, the company must issue 16,301,841 scheme shares to creditors at an issue price of HK$0.01 per share within six months from the resumption of trading. The issue price represents a 96% discount to the closing price of HK$0.28 per share as quoted on the Stock Exchange on the date of this announcement.

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