Mon, Mar 26, 2018 – 9:23 AM
NOBLE Group Limited said its board of directors believe the proposed restructuring will result in a “fair and equitable treatment of all shareholders”.
It is referring to the restructuring support agreement (RSA), whose “primary restructuring” proposal requires a simple majority of the existing shareholders.
Under the RSA, if shareholders do not approve of this primary restructuring, the “alternative restructuring” on a prepackaged basis involves the sale of target assets to a new Noble entity and the issuance of shares in the new entity to shareholders who voted in favour of the primary restructuring.
“The senior creditors are the economic owners of the company. It follows that the provision of equit…
Read the full article at: https://www.businesstimes.com.sg/companies-markets/noble-directors-say-proposed-restructuring-will-result-in-fair-and-equitable