SINO-OCEAN GP: The liquidity pressure of SINO-OCEAN Holdings has not yet eased, and it will actively raise funds during the grace period

On the evening of June 19, SINO-OCEAN GP announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary, Ocean Holdings, will hold meetings for the bondholders of "H19 Ocean 1" and "H19 Ocean 2" from April to May 2025 to review and approve the "Extension Proposal." According to the "Extension Proposal" and its resolutions, Ocean Holdings shall pay 0.3% of the remaining principal of the "H19 Ocean 1" and "H19 Ocean 2" bonds within 30 trading days after the approval of the "Extension Proposal." At the same time, there is a grace period of 30 consecutive trading days for the principal and interest payment of "H19 Ocean 1" and "H19 Ocean 2." If Ocean Holdings completes the full payment or obtains relevant waivers from the bondholders' meeting within the grace period, it will not constitute a default on the relevant bonds. As of the date of this announcement, Ocean Holdings' liquidity remains tight and has not improved. Ocean Holdings will actively raise funds during the grace period to strive for a proper resolution of the related debt issues and effectively safeguard investors' rights and interests, with specific circumstances to be announced separately