REDCO GROUP (01622.HK): Cayman and HK Scheme Meetings for Debt Restructuring Set for 16 October

NewTimeSpace News: On 24 September 2026, Redco Properties Group Limited (the "Company") announced further progress on its proposed restructuring (referring to the Company's announcement dated 28 August 2026 in respect of the financial indebtedness restructuring proposal of the Group). Pursuant to orders of the Grand Court of the Cayman Islands dated 21 September 2026 and the High Court of Hong Kong SAR dated 9 September 2026, the Company will convene meetings of the scheme creditors to consider and, if thought fit, approve the schemes of arrangement proposed to be made between the Company and the scheme creditors under section 86 of the Companies Act of the Cayman Islands and sections 670, 673 and 674 of the Companies Ordinance of Hong Kong, to be implemented in the Cayman Islands (the Cayman Scheme) and Hong Kong (the Hong Kong Scheme).

The announcement disclosed that the scheme meetings for both the Cayman Scheme and the Hong Kong Scheme are scheduled for 16 October 2026; the non-binding restructuring term sheet setting out the principal terms of the proposed restructuring has been amended to reflect comments and feedback received since the despatch of the practice statement letter (the amended term sheet), as set out in Appendix I to the announcement, and the notices of the scheme meetings are set out in Appendix II. Scheme creditors may direct enquiries to GLAS Agency (Hong Kong) Limited, the information agent for the schemes, or to the Company's advisers White & Case and Haitong International Securities.

The Company stated that the implementation of the schemes and the proposed restructuring remains subject to a number of factors outside the Company's control; holders of securities and other investors should not rely solely on the information contained in this announcement or any other announcements, and must exercise caution and consider the relevant risks when dealing in the Company's securities; the Company will publish further announcements as appropriate to provide further updates on the proposed restructuring.

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