The allocation is “fair to all shareholders,” said founder Richard Elman.
Noble Group will provide all shareholders with 15% in aggregate of the equity in New Noble provided the resolutions to approve the restructuring are passed at the special general meeting. “This simplified structure replaces the previous proposal to provide shareholders with 10% equity in New Noble plus up to a further 7.5% on a pre-diluted basis through the option and incentive share option,” it said in an announcement.
It has also received an “irrevocable undertaking” from Noble Holdings to support the restructuring on the revised terms. NHL currently holds approximately 17.9% of the companys issued shares.
Noble also said its founder Richard Elman …
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