Fantasia Holdings Group Co., Limited Announces Key Milestone in Offshore Debt Restructuring: Approval of Schemes by Creditors
Summary of Key Developments
- Fantasia Holdings Group Co., Limited (HKEX: 1777) has secured crucial creditor approval for its Hong Kong and Cayman restructuring schemes.
- The Scheme Meeting, held on 20 February 2026, resulted in overwhelming support from Scheme Creditors, with 99.67% of voting creditors (by value) backing the proposals.
- Next steps include seeking sanction from the Hong Kong and Cayman courts, with hearings scheduled for 12 March 2026.
- The Company cautions that the implementation of the restructuring remains subject to court approval and other uncontrollable factors.
Detailed Announcement for Investors
Fantasia Holdings Group Co., Limited has provided an important update regarding the restructuring of its offshore indebtedness. The Company announced the results of the Scheme Meeting, a major milestone in its proposed debt restructuring process. The meeting, held at Linklaters’ Hong Kong office, saw the participation of 1,412 Scheme Creditors, together holding over US\$6.097 billion in claims.
Of these creditors, 1,397—representing approximately US\$6.077 billion in claims—voted in favor of both the Hong Kong Scheme and the Cayman Scheme. This reflects an overwhelming 99.67% approval rate by value and a majority in number, surpassing the requisite statutory thresholds for scheme approval.
What Happens Next?
With this creditor approval, Fantasia will now petition both the Hong Kong and Cayman courts for the final sanction and approval of the restructuring schemes. The court hearings are set as follows:
- Hong Kong Scheme Sanction Hearing: 10:00 a.m. (Hong Kong time) on 12 March 2026
- Cayman Scheme Sanction Hearing: 10:30 p.m. (Hong Kong time) on 12 March 2026
These hearings are a critical next step, as court sanction is required before the restructuring can be implemented.
Potential Impact on Shareholders and Share Price
- Positive Signal: The near-unanimous support from creditors is a significant positive for Fantasia, indicating strong consensus to move forward with the restructuring. This could improve market sentiment and reduce uncertainty around the Company’s offshore debt situation.
- Court Approval Still Pending: Investors should note that the restructuring is not yet finalized. Court approval is a mandatory step, and any unexpected developments in court could impact the timeline or outcome.
- Risks Remain: The Company has emphasized that the restructuring implementation is subject to factors outside its control. There is no guarantee of successful implementation, and any setbacks could negatively affect share values.
- Further Announcements: Investors are advised to monitor future announcements from Fantasia for updates on court proceedings and any material developments related to the restructuring.
Information Resources for Creditors and Investors
Fantasia has provided resources for creditors and investors seeking more information:
Board and Management Update
As of the date of this announcement, the Board consists of:
- Executive Directors: Ms. Cheng Jianli, Mr. Timothy David Gildner, Mr. Lin Zhifeng
- Non-Executive Directors: Ms. Zeng Jie, Baby; Mr. Su Boyu
- Independent Non-Executive Directors: Mr. Leung Yiu Cho, Mr. Guo Shaomu, Mr. Ma Yu-heng
Important Notice to Shareholders and Investors
- The restructuring outcome could materially impact Fantasia’s financial position and share price, positively or negatively, depending on court approval and other external factors.
- Shareholders and investors are strongly advised to exercise caution when dealing in the Company’s securities at this time and to seek professional advice if in doubt.
- The Company will continue to make further announcements as material developments occur.
Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. The implementation of the proposed restructuring is subject to court approval and other factors beyond the Company’s control. Investors should not rely solely on this article and should consult their own professional advisers before making any investment decisions.
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