Wah Lee Resources enters into restructuring agreement

Wah Lee Resources (1215) announced that under the support of 97% creditors the company has reentered in restructuring agreements. Sourcebase Development Limited (Sourcebase), which is controlled by Zhang Yang, chairman of Interchina (0202), has agreed to subscribe 5500mln new shares at HK$0.01 for 55mln, representing for 53.15% of expanded share capital.

Related stock : (1215)( 202)