(EXOF) О корпоративном действии "Обмен ценных бумаг" - Country Garden Holdings Company Limited 5.125 17/01/25 (облигация ISIN XS1750118462)

Небанковская кредитная организация акционерное общество «Национальный расчетный депозитарий» (далее - НКО АО НРД) сообщает, что в адрес НКО АО НРД поступила информация от Иностранного депозитария о корпоративном действии «Обмен ценных бумаг».

Подробная информация изложена в тексте сообщения от Иностранного депозитария и материалах к корпоративному действию.
Материалы к корпоративному действию приложены к данному сообщению. Также материалы доступны по запросу у Иностранного депозитария. Подробности приведены в тексте сообщения от Иностранного депозитария.

Обращаем внимание, что в настоящий момент существуют ограничения при участии в корпоративных действиях по иностранным ценным бумагам. Подробная информация приведена на сайте НКО АО НРД.

Обращаем Ваше внимание, что информацию о кодах ISIN, CFI иностранных финансовых инструментов можно найти на сайте www.isin.ru, а, при ее отсутствии на сайте, направить соответствующий запрос на почтовый ящик isin@nsd.ru.
В соответствии с Указанием Банка России от 03.10.2017 N 4561-У "О порядке квалификации иностранных финансовых инструментов в качестве ценных бумаг» квалификация иностранных финансовых инструментов осуществляется заинтересованным в указанной квалификации лицом. Также для проведения процедуры квалификации иностранных финансовых инструментов можно обратиться в Банк России.
НКО АО НРД не является уполномоченным лицом по проведению квалификации иностранных финансовых инструментов участников рынка и иных лиц.

Дополнительную информацию НКО АО НРД будет доводить до Вашего сведения по мере ее поступления.

Текст сообщения от Иностранного депозитария:

--------------------------------------
NOTE/NOTICE TO BE SENT BYPARTICIPANTCAED/SCHEME OFARRANGEMENT+FEE+MEETING+DISCLOSURENARS/001ISIN KYG245241032RSA FEE SHARES (IF APPLICABLE)NARS/001/XS/116980983LTN (A) ISIN XS3261062080, LTN (A)
-------------------------------------------------------
ISIN XS3261062320, LTN (B) ISINXS3261063997, LTN (B) ISINXS3261064292NARS/001/XS/116980975TO PARTICIPATE IN THE SCHEME ANDRECEIVE SCHEME CONSIDERATION:LTL(A), LTL(B), CVR IF APPLICABLE(OUTSIDE EB)NARS/001
-------------------------------------------------------
ISIN XS3261067808MCB (A) RESTRICTED NEW INSTRUMENTS(IAI) (IF APPLICABLE)NARS/001ISIN XS3261067717MCB (A) UNRESTRICTED NEWINSTRUMENTS (REGULATION S) (IFAPPLICABLE)NARS/001ISIN XS3261061603
-------------------------------------------------------
MTN RESTRICTED NEW INSTRUMENTS(IAI) (IF APPLICABLE)NARS/001ISIN XS3261068525MCB (B) UNRESTRICTED NEWINSTRUMENTS (REGULATION S) (IFAPPLICABLE)NARS/001ISIN XS3261068871MCB (B) RESTRICTED NEW INSTRUMENTS
-------------------------------------------------------
(IAI) (IF APPLICABLE)NARS/001ISIN XS3261061512MTN UNRESTRICTED NEW INSTRUMENTS(REGULATION S) (IF APPLICABLE)NARS/003ISIN KYG245241032RSA FEE SHARES (IF APPLICABLE)NARS/003/XS/116980983
-------------------------------------------------------
LTN (A) ISIN XS3261062080, LTN (A)ISIN XS3261062320, LTN (B) ISINXS3261063997, LTN (B) ISINXS3261064292NARS/003/XS/116980975TO PARTICIPATE IN THE SCHEME ANDRECEIVE SCHEME CONSIDERATION:LTL(A), LTL(B), CVR IF APPLICABLE(OUTSIDE EB)
-------------------------------------------------------
NARS/003ISIN XS3261067808MCB (A) RESTRICTED NEW INSTRUMENTS(IAI) (IF APPLICABLE)NARS/003ISIN XS3261067717MCB (A) UNRESTRICTED NEWINSTRUMENTS (REGULATION S) (IFAPPLICABLE)NARS/003
-------------------------------------------------------
ISIN XS3261061603MTN RESTRICTED NEW INSTRUMENTS(IAI) (IF APPLICABLE)NARS/003ISIN XS3261068525MCB (B) UNRESTRICTED NEWINSTRUMENTS (REGULATION S) (IFAPPLICABLE)NARS/003ISIN XS3261068871
-------------------------------------------------------
MCB (B) RESTRICTED NEW INSTRUMENTS(IAI) (IF APPLICABLE)NARS/003ISIN XS3261061512MTN UNRESTRICTED NEW INSTRUMENTS(REGULATION S) (IF APPLICABLE)NARC/001CASH USD UNMODIFIED DUTCHAUCTION - OFFER PRICE (IFAPPLICABLE)
-------------------------------------------------------
NARC/003CASH USD UNMODIFIED DUTCHAUCTION - OFFER PRICE (IFAPPLICABLE)
-------------------------------

--------------- EVENT DETAILS -------------------
UPDATE 30/12/2025: PAYMENT INFORMATION
1. VALIDLY INSTRUCTED POSITION SHOULD BE DEBITED FROM YOUR
ACCOUNT IN THE TODAY'S REAL-TIME PROCESS.
2. CASH ENTITLEMENT SHOULD BE CREDITED DURING TODAY'S REAL-TIME
PROCESS.
3. CREDIT OF THE NEW SECURITIES FOR VALID INSTRUCTIONS SHOULD BE
PROCESSED DURING TODAY'S REAL-TIME PROCESS.
PAYMENT AND VALUE DATE HAVE BEEN ADDED TO THE RELEVANT FIELDS.
END OF UPDATE.
UPDATE 30/12/2025: NOTICE OF DESIGNATION OF RESTRUCTURING
EFFECTIVE DATE HAS BEEN MADE AVAILABLE.
THE COMPANY IS PLEASED TO ANNOUNCE THAT IT HAS DESIGNATED
30/12/2025 AS THE RESTRUCTURING EFFECTIVE DATE, SUBJECT TO THE
SATISFACTION OR WAIVER OF ALL THE RESTRUCTURING CONDITIONS IN
ACCORDANCE WITH CLAUSE 13.2 OF THE SCHEME
PLEASE REFER TO THE DOCUMENTATION FOR MORE DETAILS
UPDATED INFORMATION: RSA FEE DISTRIBUTION KYG245241032 ACCORDING
TO OUR LOCAL DEPOSITORY, THE PHYSICAL CERTIFICATE FOR COUNTRY
GARDEN SHARES (KYG245241032) WILL ONLY BE AVAILABLE FOR
COLLECTION OUTSIDE REGULAR OFFICE HOURS (HONG KONG TIME). THE
DEPOSITORY WILL ARRANGE COLLECTION AGAIN TOMORROW.
THE RSA FEE IS EXPECTED TO BE CREDITED TOMORROW, ONCE
DEMATERIALIZATION IS COMPLETED.
UPDATE 24/12/2025: PROCEED ISINS AND ADDITIONAL DETAILS OF
EXPECTED SETTLEMENT HAVE BEEN MADE AVAILABLE.
AGENT SODALI HAS PUBLISHED THE ISINS CORRESPONDING TO THE VARIOUS
PROCEEDS, AND ELECTIONS ARE BEING SUBMITTED DIRECTLY TO AGENT
USING THE DESIGNATED FORM.
PROCEED ISIN CODES HAVE BEEN ALLOCATED. DUE TO TECHNICAL
LIMITATIONS, WE ARE UNABLE TO REPORT IN DEDICATED PREFORMATTED
FIELDS ALL ISIN CODES TO BE CREDITED VIA THIS EVENT.
PLEASE SEE BELOW THE FULL LIST OF RESULTING SECURITIES:
MANDATORY CONVERTIBLE BOND (A): XS3261067717 (REGS) /
XS3261067808 (IAI)
MANDATORY CONVERTIBLE BOND (B): XS3261068525 (REGS) /
XS3261068871 (IAI)
MEDIUM-TERM NOTE: XS3261061512 (REGS) / XS3261061603 (IAI)
LONG-TERM NOTE (A): XS3261062080 (REGS) / XS3261062320 (IAI)
LONG-TERM NOTE (B): XS3261063997 (REGS) / XS3261064292 (IAI)
COUNTRY GARDEN SHARES (RSA FEE): KYG245241032
RSA FEE:
AS ADVISED BY THE AGENT, THE RSA FEE IS CURRENTLY EXPECTED TO BE
PAID IN THE FORM OF SHARES RATHER THAN MCBS.
DISTRIBUTION RATIO ON RSA FEE:
. RSA FEE: 0.1 PERCENT OF THE RELEVANT AGGREGATE PRINCIPAL AMOUNT
(USD)
. FX RATE (USD TO HK AS PER THE EXPLANATORY STATEMENT): USD 1
EQUALS HKD 7.8
. SHARE CONVERSION PRICE: HKD 2.60 PER SHARE
. CREDIT AMOUNT OF THE RSA FEE: THE RELEVANT AGGREGATE PRINCIPAL
AMOUNT X 0.1 PERCENT X HKD 7.8 / HKD 2.6
DUE TO ENTITLEMENT ALLOCATION MECHANISM, THERE WILL BE NO FIXED
RATIOS REPORTED VIA THE EVENT. CREDITS OF ENTITLEMENTS ARE GOING
TO BE MADE BASED ON INDIVIDUAL ELECTIONS OF CREDITORS.
ENTITLEMENT BREAKDOWN:
AGENT SODALI WILL MAKE A SCHEME ENTITLEMENTS CALCULATOR TOOL
AVAILABLE ON THEIR WEBSITE
(HTTPS://PROJECTS.SODALI.COM/COUNTRYGARDEN) AS OF THE
RESTRUCTURING EFFECTIVE DATE. THIS TOOL WILL ALLOW YOU TO VIEW
THE BREAKDOWN OF PROCEEDS FOR YOUR INSTRUCTION(S) BY ENTERING THE
CUSTODY INSTRUCTION REFERENCE NUMBER.
FOR ANY FURTHER QUESTIONS REGARDING YOUR ENTITLEMENT, PLEASE
CONSULT THE OFFER DOCUMENTATION AND THE SCHEME ENTITLEMENT
CALCULATOR GUIDE, AVAILABLE FOR DOWNLOAD ON OUR WEBSITE, AND
CONTACT THE AGENT DIRECTLY.
DUE TO TECHNICAL REASONS OPTION WITH CAON 001 HAS BEE REPLACED
WITH CAON 003.
UPDATE 08/12/2025: AMENDMENT IN REGARDS OF UNINSTRUCTED BALANCES.
THE UNINSTRUCTED BALANCES WILL BE BASED ON THE SCHEME EFFECTIVE
DATE INSTEAD. RECORD DATE HAS BEEN BEEN REMOVED ACCORDINGLY
END OF UPDATE.
UPDATE 05/12/2025: SCHEME EFFECTIVE DATE ANNOUNCED
THE SCHEME EFFECTIVE DATE FOR THE SCHEME OCCURED ON 05/12/2025 IN
ACCORDANC TO THE SCHEME TERMS
DOCUMENTATION CAN BE FOUND ON THE AGENT WEBSITE:
HTTPS://PROJECTS.SODALI.COM/COUNTRYGARDEN,
UPON THE DISCRETION OF THE COMPANY, UNINSTRUCTED BALANCE WILL BE
BASED ON REAL-TIME HOLDING INSTEAD OF RECORD DATE BALANCE
END OF UPDATE.
.---------------------------------------------------
UPDATE 03/12/2025: NOTICE OF ORDER GRANTING RECOGNITION OF
FOREIGN MAIN PROCEEDING UNDER CHAPTER 15 HAS BEEN MADE AVAILABLE
PLEASE REFER TO THE DOCUMENTATION FOR MORE DETAILS
END OF UPDATE
.--------------------------------------
UPDATE 06/11/2025: DEADLINE EXTENDED AND NOTICE OF RESULTS OF THE
SCHEME MEETINGS
THE FOLLOWING DEADLINES HAVE BEEN UPDATED:
. INSTRUCTION DEADLINE
THE DEADLINE HAS BEEN EXTENDED IN REGARD TO THE SCHEME
CONSIDERATION ENTITLEMENT ELECTION ONLY
INSTRUCTIONS ALREADY SENT REMAIN VALID
THE SCHEME HAS BEEN APPROVED BY THE REQUISITE MAJORITIES OF THE
SCHEME CREDITORS (CLASS 1) AND SCHEME CREDITORS (CLASS 2)
RESPECTIVELY. THE SCHEME WILL BE SUBJECT TO SUBSEQUENT APPROVAL
AND SANCTION OF THE COURT.
PLEASE REFER TO THE DOCUMENTATION FOR MORE DETAILS. THE DOCUMENTS
ARE ONLY AVAILABLE FROM THE AGENT
AT:HTTPS://PROJECTS.SODALI.COM/COUNTRYGARDEN
END OF UPDATE.
.------------------------------------------
UPDATE 30/10/2025: ANNOUNCEMENT WITH RESPECT TO THE SUPPLEMENT TO
THE EXPLANATORY STATEMENT, WHICH HAS BEEN RELEASED ON HKEX, HAS
BEEN MADE AVAILABLE.
PLEASE REFER TO THE DOCUMENTATION FOR MORE DETAILS
END OF UPDATE
.---------------------------------------------
UPDATE 29/10/2025: SUPPLEMENT TO THE EXPLANATORY STATEMENT HAS
BEEN MADE AVAILABLE.
NOTICE OF SUPPLEMENT TO THE EXPLANATORY STATEMENT AND SUPPLEMENT
TO THE EXPLANATORY STATEMENT IN RELATION TO THE SCHEME OF
ARRANGEMENT HAVE BEEN MADE AVAILABLE
PLEASE REFER TO THE DOCUMENTATION FOR MORE DETAILS
SUPPLEMENT TO THE EXPLANATORY STATEMENT AVAILABLE ONLY VIA AGENTS

WEBSITE: HTTPS://PROJECTS.SODALI.COM/COUNTRYGARDEN
END OF UPDATE
.---------------------------------------------
INFORMATION SOURCE: INFORMATION AGENT:
SODALI AND CO LTD
ADDRESS:
IN HONG KONG: ROOM 1401, 90 CONNAUGHT ROAD CENTRAL, SHEUNG WAN,
HONG KONG
IN LONDON: 122 LEADENHALL ST, EC3V 4AB, CITY OF LONDON, UNITED
KINGDOM
PHONE: HONG KONG: +852 2319 4859 / LONDON: +44 207 382 0359
TRANSACTION WEBSITE (DOCUMENT POSTING WEBSITE):
HTTPS://PROJECTS.SODALI.COM/COUNTRYGARDEN
SCHEME PORTAL (FOR SUBMISSION OF THE ACCOUNT HOLDER LETTER OR THE
LENDER PROXY FORM): HTTPS://PORTAL.SODALI.COM/COUNTRYGARDEN
EMAIL: COUNTRYGARDEN(AT)INVESTOR.SODALI.COM
.
GENERAL INFORMATION
.------------------
PURPOSE OF THE SCHEME: AMONGST OTHER THINGS, TO STRENGTHEN AND
RIGHT-SIZE THE OFFSHORE ASSETS AND LIABILITIES OF THE GROUP AS
REFLECTED IN THE CONSOLIDATED ACCOUNTS OF THE COMPANY BY REDUCING
OFFSHORE INDEBTEDNESS BY AN AGGREGATE AMOUNT OF MORE THAN USD
10,000,000,000. THIS EXERCISE WILL ENABLE EACH MEMBER OF THE
GROUP (AFTER THE FC DISPOSAL) TO SATISFY ALL REMAINING OFFSHORE
INDEBTEDNESS AND OTHER LIABILITIES IN ORDER TO CONTINUE TO TRADE
ON A GOING-CONCERN
.
SCHEME MEETING:
.--------------
MEETING LOCATION, DATE AND TIME:
SCHEME MEETING (CLASS 1): TO BE HELD AT 18:00 HONG KONG TIME ON
05/11/2025
SCHEME MEETING (CLASS 2): TO BE HELD AT 20:00 HONG KONG TIME ON
05/11/2025
.
EACH SCHEME MEETING WILL BE HELD AT THE OFFICE OF LINKLATERS AT
11TH FLOOR ALEXANDRA HOUSE, CHARTER ROAD, HONG KONG (LINKLATERS
HONG KONG OFFICE)
.
NOTE
.------
THE SCHEME CAN ONLY BECOME EFFECTIVE AND LEGALLY BINDING WHEN:
(I) APPROVED BY A MAJORITY IN NUMBER OF SCHEME CREDITORS
REPRESENTING NO LESS THAN 75 PERCENT IN VALUE OF THE SCHEME
CLAIMS OWNED OR HELD BY THE SCHEME CREDITORS WHO ARE PRESENT IN
PERSON OR BY PROXY AND VOTING AT EACH OF THE SCHEME MEETINGS
CONVENED TO CONSIDER AND, IF THOUGHT FIT, APPROVE THE SCHEME
(II) APPROVED BY THE COURT MAKING AN ORDER SANCTIONING THE SCHEME
(III) THE SEALED COPY OF THE ORDER SANCTIONING THE SCHEME IS
FILED WITH THE HONG KONG REGISTRAR COMPANIES
.
SCHEME CLAIMS: IN TERMS OF THE DEBT UNDER THE SCHEME, RELEVANT
-------------------------------------------------------
DEBT INSTRUMENTS ARE SEPARATED IN TWO CLASSES. SCHEME CLAIMS
(CLASS 1) AND SCHEME CLAIMS (CLASS 2)
SCHEME CLAIMS (CLASS 1) - ANY LIABILITY ARISING UNDER OR RELATED
TO ANY EXISTING SYNDICATED LOANS, WHETHER BEFORE, AT OR AFTER THE
RECORD DATE, INCLUDING ANY INTEREST OR DEFAULT INTEREST
SCHEME CLAIMS (CLASS 2) - ANY LIABILITY ARISING UNDER OR RELATED
TO (I) THE ICBC LOAN, (II) THE EVER CREDIT BILATERAL LOAN, (III)
THE EXISTING LOANS (ONSHORE CREDIT SUPPORT) AND (IV) THE EXISTING
NOTES, WHETHER BEFORE, AT OR AFTER THE RECORD DATE, INCLUDING ANY
INTEREST OR DEFAULT INTEREST
.
1. EXCHANGE AND CONSENT: BY SUBMITTING ELECTRONIC INSTRUCTIONS,
HOLDERS REQUEST EUROCLEAR TO BLOCK THEIR POSITIONS
SCHEME VOTING DIRECTIONS AND SCHEME ELECTIONS ON RESTRUCTURING
CONSIDERATION, AS APPLICABLE, ARE PROVIDED VIA THE ACCOUNT HOLDER
LETTER (AHL)
.
2. CONDITIONS AND RESTRICTIONS: CERTAIN RESTRICTIONS MAY APPLY
PLEASE REFER TO THE DOCUMENTATION FOR MORE DETAILS
.
TIMETABLE
.--------
. VOTING INSTRUCTION DEADLINE: 31/10/2025 17:00 HONG KONG TIME
. SCHEME SANCTION HEARING: 04/12/2025 10:00 HONG KONG TIME
. SCHEME EFFECTIVE DATE: THE DATE ON WHICH A SEALED COPY OF THE
SANCTION ORDER IS FILED WITH THE HONG KONG REGISTRAR OF COMPANIES
FOR REGISTRATION
. SCHEME CONSIDERATION ENTITLEMENT ELECTION DEADLINE: 01/12/2025
17:00 HONG KONG TIME
. RESTRUCTURING EFFECTIVE DATE: THE DATE TO BE SPECIFIED BY THE
COMPANY IN THE COMPLETION NOTICE DELIVERED TO EACH SCHEME
CREDITOR PURSUANT TO THE TERMS OF THE SCHEME
. LONGSTOP DATE: 31/03/2026, OR SUCH LATER DATE AS MAY BE
EXTENDED PURSUANT TO THE TERMS OF THE SCHEME
. BAR TIME: IS AN EXPECTED TIME AND WILL OCCUR AT 17:00 HONG KONG
TIME ON THE DATE FALLING 15 BUSINESS DAYS BEFORE THE HOLDING
PERIOD EXPIRY DATE
. HOLDING PERIOD EXPIRY DATE: BEING ONE BUSINESS DAY PRIOR TO THE
DATE FALLING SIX CALENDAR MONTHS AFTER THE RESTRUCTURING
EFFECTIVE DATE (OR, IF SUCH DATE IS NOT A BUSINESS DAY, THE NEXT
BUSINESS DAY AFTER THAT DATE), OR SUCH LATER DATE AS THE COMPANY
MAY DESIGNATE IN ITS SOLE DISCRETION ACTING REASONABLY, AS
NOTIFIED BY THE COMPANY TO UNADMITTED SCHEME CREDITORS
.
ENTITLEMENT
.----------
A. SCHEME CONSIDERATION ENTITLEMENT:
SCHEME CREDITORS CAN ELECT EITHER ONE OR A COMBINATION OF THE
FOLLOWING OPTIONS WITHIN THE ACCOUNT HOLDER LETTER (THE SUM OF
PERCENTAGES INDICATED FOR ALL OPTIONS MUST BE EQUAL TO 100 PER
CENT):
OPTION 1: PARTICIPATION IN A TENDER OFFER, WHERE A SCHEME
CREDITOR MAY TENDER ITS CLAIM (UP TO A MAXIMUM OFFER PRICE OF USD
100 FOR EVERY USD 1,000) FOR REDEMPTION BY THE COMPANY IN CASH
OPTION 2: ZERO-COUPON MANDATORY CONVERTIBLE BONDS IN AN AGGREGATE
PRINCIPAL AMOUNT OF UP TO USD 2,000,000,000 WITH A MATURITY DATE
OF 31/12/2031, WHICH MAY BE CONVERTED INTO ORDINARY SHARES OF THE
COMPANY AT AN INITIAL CONVERSION PRICE OF HKD 2.60 PER SHARE
OPTION 3A/3B: (I) ZERO-COUPON MANDATORY CONVERTIBLE BONDS IN AN
AGGREGATE PRINCIPAL AMOUNT OF UP TO USD 5,500,700,000 WITH A
MATURITY DATE OF 31/12/2031, WHICH MAY BE CONVERTED INTO ORDINARY
SHARES OF THE COMPANY AT AN INITIAL CONVERSION PRICE OF HKD 2.60
PER SHARE, AND (II) MEDIUM-TERM DEBT INSTRUMENTS OF AN AGGREGATE
PRINCIPAL AMOUNT OF UP TO USD 2,709,300,000 AND A 2.5 PER CENT
P.A. COUPON RATE WITH A MATURITY DATE OF 31/12/2032
OPTION 4A/4B: (I) ZERO-COUPON MANDATORY CONVERTIBLE BONDS WITH A
MATURITY DATE OF 31/12/2034, WHICH MAY BE CONVERTED INTO ORDINARY
SHARES OF THE COMPANY AT AN INITIAL CONVERSION PRICE OF HKD 10
PER SHARE, AND (II) LONG-TERM DEBT INSTRUMENTS WITH A 2.0 PER
CENT P.A. COUPON RATE AND A MATURITY DATE OF 31/12/2034. THE
PRINCIPAL AMOUNT OF THE MANDATORY CONVERTIBLE BOND AND LONG-TERM
DEBT INSTRUMENT IS NOT CAPPED
OPTION 5A/5B: LONG-TERM DEBT INSTRUMENTS OF AN AGGREGATE
PRINCIPAL AMOUNT OF UP TO USD 1,500,000,000, A 1 PER CENT P.A.
COUPON RATE AND A MATURITY DATE OF 31/12/2036
.
IMPORTANT NOTE:
.--------------------
PROCEEDS ELECTIONS ARE MADE THROUGH THE ACCOUNT HOLDER LETTER AS A
CONSEQUENCE, EUROCLEAR HAS NO VIEW ON SCHEME CREDITOR'S
ENTITLEMENTS AND WILL CREDIT THE PROCEEDS AS PER INFORMATION
RECEIVED FROM THE AGENT
.
B. CONTINGENT VALUE RIGHT (CVR):
AN INSTRUMENT (I.E. THE CVR) THAT ENABLES HOLDERS OF THE MTN,
MTL, LTN, LTL AND SCA LOAN TO SHARE IN ANY CASH REALISATION WHICH
THE CONTROLLING SHAREHOLDER MAY REALISE FROM THE ONWARD DISPOSAL
OF THE FOREST CITY PROJECT. THE CVR WILL BE ISSUED IF THE FOREST
CITY PROJECT IS ACQUIRED BY THE CGPV PURCHASER IN ACCORDANCE WITH
THE TERMS OF THE CGPV ACQUISITION DOCUMENTS WITHIN SIX MONTHS
AFTER THE RESTRUCTURING EFFECTIVE DATE. THE CVR WILL BE HELD BY
THE CVR AGENT ON BEHALF OF HOLDERS OF THE MTN, MTL, LTN, LTL AND
SCA LOAN AND ANY CASH RECEIVED BY THE CVR AGENT IN RESPECT OF THE
CVR WILL BE DISTRIBUTED TO THE NEW INSTRUMENT ADMINISTRATIVE
PARTIES UNDER THE MTN, MTL, LTN, LTL AND SCA LOAN IN ACCORDANCE
WITH THE TERMS OF AN INTERCREDITOR AGREEMENT TO BE ENTERED INTO
AMONG THE AFOREMENTIONED PARTIES. IN THE EVENT CGPV ACQUISITION
IS NOT COMPLETED WITHIN SIX MONTHS AFTER THE RESTRUCTURING
EFFECTIVE DATE, THE FOREST CITY PROJECT WILL
REMAIN IN THE GROUP AND NO CVR WILL BE ISSUED
.
C. RSA FEE:
PAYABLE ON RED TO THOSE THAT VALIDLY ACCEDED TO THE RSA BEFORE
THE RELEVANT DEADLINE AND VOTED IN FAVOUR OF THE SCHEME
(I) EARLY-BIRD RSA FEES (ACCEDED BEFORE THE EARLY-BIRD RSA FEE
DEADLINE): MCB (A), WHICH HAS A FACE VALUE THAT IS EQUAL TO 0.1
PERCENT OF THE AGGREGATE PRINCIPAL AMOUNT OF THE EXISTING DEBT
THAT AN ELIGIBLE CONSENTING CREDITOR HOLDS AS AT THE RECORD DATE
(II) GENERAL RSA FEES (ACCEDED AFTER EARLY BUT BEFORE THE GENERAL
RSA FEE DEADLINE): MCB (A), WHICH HAS A FACE VALUE THAT IS EQUAL
TO 0.05 PERCENT OF THE AGGREGATE PRINCIPAL AMOUNT OF THE EXISTING
DEBT THAT AN ELIGIBLE CONSENTING CREDITOR HOLDS AS AT THE RECORD
DATE
.
PLEASE REFER TO THE EXPLANATORY STATEMENT FOR FURTHER DETA

ILS ON
THE ENTITLEMENTS
1. MINIMUM EXERCISE AMOUNT: PLEASE ENSURE THAT YOUR INSTRUCTED
AMOUNT:
. IS AT LEAST THE MINIMUM EXERCISABLE AMOUNT OF THE NOTE
. CORRESPONDS TO THE MULTIPLE EXERCISABLE AMOUNT OF THE NOTE
. WILL YIELD AT LEAST THE MINIMUM AMOUNT OF ENTITLEMENT
2. ACCRUED AND UNPAID INTEREST: ANY ACCRUED AND UNPAID INTEREST
WILL BE WAIVED UPON APPROVAL OF THE SCHEME
3. MINIMUM AGGREGATE ACCEPTANCE AMOUNT: THE EXCHANGE OFFER IS
NOT CONDITIONAL ON A MINIMUM AGGREGATE AMOUNT OF SECURITIES
OFFERED FOR EXCHANGE
.
4. EXCHANGE CAP: NO EXCHANGE CAP HAS BEEN SET
5. PRORATION: NOT APPLICABLE
6. POOLFACTOR: NOT APPLICABLE
7. CASH FRACTIONS: FRACTIONAL ENTITLEMENT WILL NOT BE COMPENSATED
IN CASH
8. NEW NOTES:
. MANDATORY CONVERTIBLE BONDS (A) - MCB(A)
. MANDATORY CONVERTIBLE BONDS (B) - MCB(B)
. USD-DENOMINATED MEDIUM TERM NOTES - (MTN)
. USD-DENOMINATED MEDIUM TERM LOAN - (MTL)
. USD-DENOMINATED LONG TERM NOTES (A) - LTN(A)
. USD-DENOMINATED LONG TERM NOTES (B) - LTN(B)
. USD-DENOMINATED LONG TERM LOAN (A) - LTL(A)
. USD-DENOMINATED LONG TERM LOAN (B) - LTL(B)
. CONTINGENT VALUE RIGHTS (CVR)
THE BONDS AND NOTES ARE EXPECTED TO BE ELIGIBLE IN EUROCLEAR
THE LOANS AND CVR ARE NOT ELIGIBLE IN EUROCLEAR
9. HOLDING PERIOD
IF THE RESTRUCTURING EFFECTIVE DATE, AS APPLICABLE, OCCURS ON OR
BEFORE THE LONGSTOP DATE, ALL OF THE EXISTING NOTES WILL BE
CANCELLED IN FULL IN ACCORDANCE WITH THE TERMS OF THE SCHEME AS
AT THE RESTRUCTURING EFFECTIVE DATE, AND THEREAFTER WILL NOT BE
CAPABLE OF BEING TRADED IN THE CLEARING SYSTEMS
ANY SCHEME CREDITOR WHO DID NOT PARTICPATE IN THE SCHEME OF
ARRANGEMENT SHALL HAVE ITS SCHEME CLAIMS RELEASED IN ACCORDANCE
WITH THE TERMS OF THE SCHEME AND THE RESTRUCTURING CONSIDERATION
TO WHICH THAT SCHEME CREDITOR WOULD HAVE BEEN
ENTITLED WILL BE TRANSFERRED TO THE HOLDING PERIOD TRUSTEE TO BE
HELD ON TRUST PURSUANT TO THE TERMS OF THE HOLDING PERIOD TRUST
-------------------------------------------------------
(HPT) AND, TO THE EXTENT NOT VALIDLY CLAIMED BY SUCH SCHEME
CREDITOR, RETURNED TO THE COMPANY AND CANCELLED AFTER THE HOLDING
PERIOD EXPIRY DATE
HOLDING PERIOD TRUST EVENT WILL BE REPORTED IN A SEPARATE EVENT
THE ENTITLEMENTS THAT THE HOLDER CAN CLAIM IN THE HPT EVENT WILL
ONLY BE CONVERTIBLE BONDS AND NEW NOTES
IMPORTANT NOTE: IF THE RESTRUCTURING DOES BECOME EFFECTIVE, IT IS
EXPECTED THAT ONLY HOLDERS AS OF RECORD TIME WILL BE ALLOWED TO
CLAIM THE ENTITLEMENT. THIS IMPLIES THAT FOR ALL TRADES SETTLING
AFTER THE RECORD TIME BUT PRIOR TO THE SETTLEMENT DATE OF THE
RESTRUCTURING, HOLDERS ACQUIRING THE POSITION WILL NEED TO MAKE
ARRANGEMENTS WITH THE RECORD DATE HOLDER IN ORDER TO OBTAIN THEIR
ENTITLEMENT
.

------------------------------

--------------- ACTION TO BE TAKEN -------------------
TO INSTRUCT, YOU NEED TO:
. SEND A SEPARATE INSTRUCTION PER BENEFICIAL OWNER (BO)
THE ABOVE IS GUIDANCE ONLY. YOU ARE SOLELY RESPONSIBLE TO
DETERMINE WHETHER TO SEND ONE INSTRUCTION PER BENEFICIAL OWNER OR
NOT.
WE WILL FORWARD BUT NOT VALIDATE ANY INSTRUCTION RECEIVED
REGARDLESS IF YOU SENT IT SEPARATELY PER BENEFICIAL OWNER OR NOT
. SEND A PAPER FORM TO THE AGENT ALONG WITH YOUR INSTRUCTION TO US
.
BY SENDING AN INSTRUCTION, YOU AUTHORISE US TO DISCLOSE YOUR NAME
AND ACCOUNT NUMBER
.
.
ELECTRONIC INSTRUCTIONS:
.-----------------------
1. FREE FORMAT MT 599/MT 568 USERS: YOUR DEADLINE IS 10:00
(BRUSSELS TIME) ON THE BUSINESS DAY BEFORE THE DEADLINE DATE.
.
2. EASYWAY USERS:
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Приложение 1: Адрес в сети Интернет, по которому можно ознакомиться с дополнительной документацией