10, Shanshan announced that the reorganization administrator of its controlling shareholder, Shanshan Group, had submitted the Reorganization Plan (Draft) and would hold the third creditors' meeting on October 21 to vote on the draft.
The announcement shows that according to the "Restructuring Investment Agreement" signed on September 29 and the content of the draft, the restructuring investor consortium led by Jiangsu New Yangtze Business and Trade Co., Ltd. will adopt a series of complex trading arrangements, such as "direct acquisition + partnership acquisition with service trust + entrustment of voting rights of remaining retained stocks". The total control right of 23.36% of Shanshan shares held by Shanshan Group and its subsidiaries was obtained, and the total transaction consideration was 3.284 billion yuan.
If the above reorganization plan is finally implemented smoothly, the controlling shareholder of Shanshan shares will be changed to the investor shareholding platform, and the actual controller of Shanshan shares will be changed to Ren yuanlin, 72, known as "China's private shipping king".