Share This

Public company info - Peace Map Holding Ltd. , 00402.HK

Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

Peace Map Holding Ltd., 00402.HK - Company Profile
Chairman -
Share Issued (share) 8,157,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Software
Corporate Profile Business Summary: The Group is principally engaged in investment holding and geographical information Performance for the year: For the year ended 31 December 2018, the Group had recorded revenue of approximately HK$145.83 million (2017 : HK$195.04 million) and the Group’s net loss was HK$409.76 million, representing a decrease in loss of about HK$247.36 million as compared to the Group’s net loss of approximately HK$657.12 million in the corresponding year. Business Review: APPOINTMENT OF THE JOINT LIQUIDATORS AND WINDING UP OF THE COMPAN On 9 July 2018, Peace Map Holding Limited (In Liquidation) (the “Company”) received a letter from Diamond Wealth Holdings Limited which stated that it had filed a winding up petition against the Company with the Supreme Court of Bermuda (the “Bermuda Court”) on 6 July 2018 on the ground that an event of default has taken place under the terms of the Convertible Notes due 2020 and the Company has upon demand failed to pay the amount due under the Convertible Notes due 2020 issued to it, being HK$405,850,000. On 10 August 2018, the Bermuda Court ordered the Company be wound up under the provisions of section 161(e) of the Bermuda Companies Act 1981 and Mr. Keiran Hutchison of EY Bermuda Limited, together with Mr. David Yen Ching Wai and Ms. Anita So Kit Yee of Ernst & Young Transactions Limited be appointed as the joint provisional liquidators of the Company. On 1 February 2019, the Bermuda Court granted an order to appoint Mr. David Yen Ching Wai, Ms. Anita So Kit Yee and Mr. Keiran Hutchison as Joint Liquidators (the “Joint Liquidators”) of the Company with a committee of inspection which is comprised of 5 members. Prospects: On 1 February 2019, the Supreme Court of Bermuda granted an order to appoint Mr. David Yen Ching Wai, Ms. Anita So Kit Yee and Mr. Keiran Hutchison as Joint Liquidators of the Company with a committee of inspection which is comprised of 5 of 5 members. On 8 April 2019, the Company entered into a sale and purchase agreement with a purchaser (the “Disposal”), pursuant to which the purchaser has conditionally agreed to purchase, and the Company conditionally agreed to sell, the entire equity interests in Jichang Investments Limited at a consideration of HK$10,000,000 which is to be settled in cash. The Disposal has been approved by the committee of inspection of the Company. On 8 October 2019, the Company, the Joint Liquidators and a potential investor (the “Potential Investor”) entered into an exclusivity agreement, pursuant to which the Company and the Potential Investor agreed to negotiate in good faith for concluding contract for implementing a proposed restructuring of the Company involving an acquisition of assets by the Company from the Potential Investor (the “Proposed Transaction”), the placing of all existing assets of the Company into a scheme for the benefits of the Company’s creditors and shareholders, and the submission of a proposal by the Company for seeking a resumption of trading in the shares of the Company to the Stock Exchange (the “Resumption Proposal”). On 5 November 2019, the Company has submitted the Resumption Proposal. Upon the completion of the Resumption Proposal and the scheme of arrangement taking effect, all the claims against the Company by its creditors will be discharged and compromised in full. Most of the subsidiaries of the Company will be identified as excluded companies and will be transferred to a special purpose vehicle held or controlled by the scheme administrators and will cease to be subsidiaries of the Company.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.