Recently, Anxin trust announced that the second judicial disposal of 1.455 billion shares of Anxin trust held by Shanghai guozhijie Investment Development Co., Ltd. (hereinafter referred to as “Shanghai guozhijie”) failed.
At the same time, the announcement mentioned that the Shanghai financial court will start the third disposal as appropriate, and the disposal date will be notified separately.
will initiate the third judicial disposal as appropriate
According to the latest announcement of Anxin trust, the company disclosed in the early stage that the Shanghai financial court will publicly conduct the second judicial disposal of 1.455 billion shares of Anxin trust held by Shanghai guozhijie (accounting for 26.60% of the total share capital of Anxin trust) on March 18, 2022 at the judicial assistance execution platform of bulk stocks of Shanghai Stock Exchange. As of 15:30 on March 18, 2022, the disposal failed because there was no bidder to bid. The Shanghai financial court will initiate the third disposal as appropriate, and the disposal date will be notified separately.
According to the announcement on judicial disposal of stocks presented by the Shanghai financial court, the initial unit price of this stock disposal is 81% of the closing average price of the stock in the 20 trading days before March 18, 2022. The bidding page shows that the transaction disposal reserve price is 3.47 yuan / share.
This is the second judicial disposal failure of this large stock. The last disposal reserve price was 3.94 yuan / share.
It is worth noting that the executed shares involve the security interest case between China Trust Industry guarantee fund Co., Ltd. (hereinafter referred to as “China SINOSURE fund”) and Shanghai guozhijie.
The reporter learned from the announcement that Shanghai guozhijie had a record of providing pledge guarantee to China SINOSURE fund. On August 31, 2020, Anxin trust announced that due to the needs of business development, the company applied for liquidity support from SINOSURE fund. As of that time, the principal amount of liquidity support provided by SINOSURE fund was 5.65 billion yuan, which was already overdue. Shanghai guozhijie provided guarantee to the credit insurance fund with its shares, with the number of Pledged Shares of 1.455 billion shares, accounting for 26.6% of the total share capital of the company.
debt settlement plan has not been implemented yet
Just before the disclosure of the above equity disposal announcement, Anxin trust disclosed an announcement on the implementation progress of the sale of major assets (hereinafter referred to as “the implementation of major assets”). The announcement shows that the debt settlement plan between the company and Bank Of China Limited(601988) Shanghai Branch has not been completed, and the asset delivery of some assets has not been completed.
It is understood that in July 2021, Anxin trust plans to sign the debt settlement agreement with the trust guarantee fund, the trust guarantee fund company and Bank Of China Limited(601988) Shanghai branch respectively. After the signing of the debt settlement agreement, the rights of all debt repayment assets listed under each agreement will be transferred to Bank Of China Limited(601988) , trust guarantee fund and trust guarantee fund company respectively, so as to offset all or part of the debts of the company to trust guarantee fund, trust guarantee fund company and Bank Of China Limited(601988) respectively.
Specifically, Anxin trust transferred to Bank Of China Limited(601988) Shanghai Branch its 3.4% equity of China Citic Bank Corporation Limited(601998) (International) Co., Ltd. (hereinafter referred to as “Xinyin international”), all the usufruct of “Hua’an assets – Xinsheng No. 1 special asset management plan” and all the beneficiary rights of “China Railway trust – ChuanHua Co., Ltd. No. 2 single fund trust”.
Anxin Trust said in the announcement on the implementation of major assets that for the transaction of 3.4% equity of Xinyin international, the company will complete the asset delivery with Bank Of China Limited(601988) Shanghai Branch as soon as possible after Xinyin international completes the corresponding decision-making procedures and obtains the approval from the regulatory authorities; As for the assets purchased with rights restrictions in this transaction, the company will complete the asset delivery with Bank Of China Limited(601988) Shanghai Branch as soon as possible after the seizure and freezing institution removes the rights restrictions; For other subject assets without rights restrictions, the company is negotiating with the counterparty to handle relevant asset delivery procedures.
