Shulou(Shulou.com)11/24 Report--

CTOnews.com news on October 8, Evergrande issued an announcement announcing that it had applied to the Stock Exchange to resume trading of the company's shares from 9: 00 a.m. on October 9.

CTOnews.com learns from the announcement that Evergrande announced the suspension of trading in its shares on September 28, together with a series of recent changes in the China Evergrande Group, which in turn will bring significant uncertainty to the share subscription agreement and the proposed transaction.

Under the share subscription agreement, the completion of Evergrande's debt restructuring and a series of other prerequisites are very important delivery prerequisites. In this case, the subscriber shall suspend the performance of the relevant obligations in the share subscription agreement.

Under the transitional financial support agreement, due to the current situation that the prerequisites under the share subscription agreement cannot be met, the prerequisites for the payment of the second and third tranches by Newton (the funding provider) to Evergrande New Energy vehicle (Tianjin) Co., Ltd. (the recipient of the funds) have not been met, and the provider is temporarily under no obligation to pay the second and third tranches to the recipient.

Evergrande sent a reply to the subscriber on October 5 expressing its intention to renegotiate the adjustments required for the proposed transaction with the subscription policy.

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