Listed Enterprise: La Chapelle'S Latest Announcement On Bankruptcy Reorganization

On July 24, Xinjiang Laxiabel Clothing Co., Ltd. issued a notice on bankruptcy reorganization. According to the announcement, this announcement includes: (1) signing a restructuring investment agreement involving the subscription and issuance of domestic shares by means of capital reserve converted into share capital under special authorization in bankruptcy reorganization; (2) Apply for cleaning exemption; (3) Appointment of independent financial advisers; (4) The date of offer begins; (5) Restructuring investment arrangements; And (6) Continuing the suspension of trading.

Subscription:

On July 24, 2024, the Company signed a restructuring investment agreement with investors and managers. The reorganization plan (draft) will be prepared on the basis of the reorganization investment plan submitted by the investor, and the subscription will be implemented as part of the reorganization investment arrangement according to the reorganization plan approved by the court.

According to the restructuring investment agreement, subject to the completion of the restructuring plan and the preconditions specified in the restructuring investment agreement, the Company will increase 57.50 new domestic shares for every 10 existing domestic shares, That is to say, based on the existing 329308642 domestic shares in the capital stock of the Company on the date of this announcement (excluding the repurchased shares subject to cancellation procedures according to Chinese laws), after the completion of the conversion, it is expected to increase 1893524692 new domestic shares in total, of which 1584455037 new domestic shares will be used for subscription matters and 309069655 new domestic shares will be used for debt to equity conversion. After the conversion of capital reserve into share capital is completed, the total share capital of the Company is expected to increase to 2437623134 shares (excluding the repurchased shares subject to cancellation procedures in accordance with Chinese laws), which shall be subject to the reorganization plan and the registration of China Securities in Beijing.

According to the restructuring investment agreement, after the preconditions are reached (or exempted, if applicable), the company has agreed to allocate and issue capital reserves in the way of increasing share capital, and Guangzhou Financial Holding has agreed to subscribe 1584455037 shares with a par value of * * * 1.00 yuan per share and a total par value of * * 1584455037 yuan, with a subscription price of * * * 220 million yuan, That is, the subscription price is about * * * 0.1388 yuan per share. The subscribed shares will be registered in the name of Guangzhou Financial Holding, or Guangzhou Financial Holding or the designated entity with Wang Guoliang's ultimate majority control.

　 Debt to equity swap

As part of the restructuring investment arrangement and as disclosed above, the creditor's rights will be paid in cash. For the rest that cannot be paid in cash, the Company will distribute and issue about 309069655 debt to equity shares to the creditor in the form of capital reserve converted into share capital to pay off the assumed remaining creditor's rights totaling * * * 3487320934.25 yuan, Relevant details (including the classification criteria for creditors to be repaid in cash and creditors to be repaid in debt to equity swap, and the final amount of debt to be repaid by debt to equity swap shares) will be determined by the Company and the Manager according to the reorganization plan approved by the court and the creditor's rights confirmed by the court. The allotment and issuance of debt equity swap shares will only be carried out after the creditors' meeting and the court approve the debt equity swap (as part of the restructuring investment arrangement and as contained in the restructuring plan (draft)).

Dongzheng innovation liquidity support

As part of the restructuring investment arrangement, Dongzheng Innovation was invited by Guangzhou Financial Holding as a financial investor and has agreed to provide the company with * * * 199 million yuan of interest free liquidity support through its designated subject and participate in the restructuring of the company in this way after the restructuring plan (draft) was approved by the people's court, The conditions for the provision of liquidity support and other related matters will be determined by the Company and SSE Innovation in a separate written form after the people's court decides to approve the reorganization plan (draft). As the * * * that provides interest free liquidity support to Dongzheng Innovation (through the designated entity), Guangzhou Financial Holding agreed to independently bear certain capital costs of Dongzheng Innovation or its designated entity.

　 Business plan

As part of the restructuring investment arrangement, Guangzhou Financial Holding Co., Ltd. will improve the operating capacity of the Company in accordance with the "business plan" listed in the restructuring investment plan submitted by investors after the restructuring of the Company. It is suggested to set up business sector companies, deal with inefficient or redundant assets or subsidiaries within the Group, and revitalize the Group's existing assets. The business plan will be a part of the reorganization plan (draft), and the reorganization plan approved by the people's court will prevail.

　 Divestiture of assets

As part of the reorganization investment arrangement, the Company will, within ten (10) working days after the reorganization plan is approved by the people's court, spin off some inefficient assets with low relevance to the main business, weak * * * ability or long-term idle by public disposal according to the reorganization plan, The funds raised from the corresponding disposal and realization will be used to supplement and repay part of the company's debts, and the relevant details will be subject to the reorganization plan approved by the people's court.