(Reuters) – Arconic said on Friday it would split into two companies and slashed its quarterly dividend by two-thirds, just weeks after the U.S. aluminum products maker spurned a buyout offer from Apollo Global Management. The company, formed following a split of Aloca Corp in 2016, plans to spin off one of its core divisions…
Compared to the latest wind selling price (69c), we must eliminate 36c of cost from the capital recovery to make Medupi competitive with wind. This requires a 68% write-off of the asset value making a R131bn deficit in the Eskom balance sheet. As Jabu Mabuza said: Someone must pay. 5. The one basic truth There…
DUBLIN, Ireland, Feb. 07, 2019 (GLOBE NEWSWIRE) — Avadel Pharmaceuticals plc (Nasdaq: AVDL) provided clarification regarding the restructuring actions announced earlier today. As part of the restructuring plan, Avadel Specialty Pharmaceuticals, LLC, a special purpose entity and wholly-owned subsidiary responsible solely for NOCTIVA-related activities, made a voluntary filing on February 6, 2019 under Chapter 11…
– Company cost structure expected to be reduced by $70 to $75 million in 2019 – Approximately $100 million in cash and marketable securities at December 31, 2018 DUBLIN, Ireland, Feb. 07, 2019 (GLOBE NEWSWIRE) — Avadel Pharmaceuticals plc (Nasdaq: AVDL), today announced a corporate restructuring to assure the financial health required to maximize the…
Phil Chronican, a non-executive director who has been appointed acting CEO, is a safe pair of hands, having had a lengthy career at Westpac before ending his executive career running ANZs Australasian businesses. Having a temporary CEO and a chairman simply warming the chair until the new CEO is found is, however — at this…
Company restructures senior leadership as it focuses on the future LOS ANGELES, Feb. 05, 2019 (GLOBE NEWSWIRE) — PINEAPPLE EXPRESS, INC. (OTC Grey: PNPL) (the Company), a publicly traded company that offers consulting, technology, investments, turn-key property rentals and branding concepts to businesses in the legal cannabis industry, today announced a comprehensive restructuring of its…
Australian cosmetics empire Napoleon Perdis Group will now honour gift cards and e-vouchers purchased before it went into voluntary administration. Administrators Simon Cathro, Chris Cook and Ivan Glavas, of Worrells Solvency Accountants, announced the struggling brand was now in a position to honour the vouchers on Wednesday. The about-face comes after many frustrated customers took…
For more than a year, in order to secure ongoing funding, there has been an urgent need to provide the local and global financial communities with assurances that there is a credible Eskom recovery plan in place that is supported by government and the treasury. To this end, Eskom presented a long-awaited turnaround plan and…
RattanIndia Power said on Tuesday that its board has approved a debt restructuring proposal which includes issuance of non-convertible debentures worth up to Rs 7,200 crore to investors on private placement basis. “In accordance with the terms of the Binding Settlement Proposal, the Board in this meeting approved (steps) with respect to composite debt…
(Reuters) – Struggling U.K. flooring retailer Carpetright said on Tuesday its Chief Financial Officer Neil Page would retire this month after more than a decade in the role. The company, which is implementing a survival plan after negotiations with creditors in the past year, said Jeremy Simpson would replace Page on Feb.25. Simpson is joining…