Novaland Group (stock code: NVL) has announced an extraordinary shareholders meeting on August 7, with the deadline for registering shareholders set for July 4. The agenda will include a proposal to issue shares for debt swap, particularly for shareholders who sold collateral assets to settle debts for the company. This comes as Novaland faces financial challenges, and supportive shareholders like NovaGroup and Diamond Properties have assisted the company in meeting its debt obligations. In response to the situation, these shareholders have lent shares to sell for financial arrangements, leading to a decrease in their ownership stakes. Novaland’s leadership assures transparency and fairness for all investors when executing the new share issuance plan.
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