Sunshine Oilsands (HKG:2012) will allot and issue a total of 48,695,736 shares to three creditors at HK$0.35 apiece to settle debt owed to the latter parties, an April 17 Hong Kong bourse filing said.
The firm owes roughly HK$8.8 million to Xu Lingwu and HK$4.1 million each to NC New Energy and Pensworth.
The shares represent roughly 14.29% of the crude oil products producer's enlarged issued share capital.
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