“It is enough to settle all pending dues including the remaining liabilities on bonds, and loans.” CDR is a financial restructuring process for troubled companies, which eases conditions on debt repayments but also limits the powers of the management to take operational and strategic decisions.
In Wockhardt’s case, the CDR plan, through lead banker “The stock rally is mainly triggered by the high performance in the last few quarters owing to growing business in the US and India, and the nutrition deal that helped the company to come out of the FCCB (foreign currency convertible bonds) debacle.
The Shareholders thus encourage all shareholders to vote against ALL of the Board Resolutions at the Board EGM and to vote in favour of ALL of the Shareholder Resolutions.
This statement reviews the relevant background behind the Shareholder Resolutions in more detail.
Richtown, through a number of other subsidiaries, ultimately owns China Fishery Group Limited, incorporated in Cayman and publicly listed on the Main Board of the Singapore Stock Exchange.
It is an indirect (and intermediate) holding company of a number of companies known as ” the China Fisheries Group“.
of the Company's outstanding shares announce today that they oppose the resolutions (the "Board Resolutions") put forward by the current board (the "Board") of the Company to be considered at the extraordinary general meeting (the "Board EGM") of the Company to be held on and that they have written to the Board requiring them to convene an extraordinary general meeting of the Company to consider a set of alternative resolutions (the "Shareholder Resolutions"), which are appended to this announcement.Onlypix in 2008, at the height of the global financial crisis.The company’s net worth had eroded to near-bankruptcy levels as losses mounted, and loan defaults prompted creditors to threaten it with liquidation.Richtown is ultimately owned (through an intermediate holding company) by Pacific Andes Resources Development Limited (“PARD“), a company incorporated in Bermuda and publicly listed on the Main Board of the Singapore Stock Exchange.PARD is itself approximately 66.5% owned by Pacific Andes International Holdings International Limited (” PAIH“), a company incorporated in Bermuda and publicly listed on the Main Board of The Stock Exchange of Hong Kong Limited.And the second factor is certainly the successful CDR,” said Consequent to the 2008 crisis, the company defaulted on the FCCBs that matured in October 2009.