Brief: GetBack Presents Amended Arrangement Proposals With Creditors

Capitea SA

24/08/2018 11:10

Aug 24 (Reuters) -  GETBACK  GBK.WA  
    * SAID ON THURSDAY THAT UNDER AMENDED ARRANGEMENT PROPOSALS
APPROVED BY ITS MANAGEMENT ON AUG. 23, CREDITORS WOULD BE
DIVIDED INTO FIVE GROUPS 
    * AS PART OF THE AMENDED ARRANGEMENT PROPOSALS, BONDHOLDERS
FROM
THE FIRST GROUP (EXCLUDING THE COMPANY'S UNITS) WOULD SEE THE
MAIN LIABILITY PAID IN 31 PERCENT IN 16 INSTALMENTS OVER 8 YEARS
VS PREVIOUSLY PROPOSED 27 PERCENT  urn:newsml:reuters.com:*:nFWN1UK0F6
    * PROPOSES TO CONVERT SOME LIABILITIES OF CREDITORS FROM
GROUPS 1
AND 4 (WHICH WILL NOT BE PAID BACK OR REDEEMED) INTO COMPANY NEW
SHARES
    * GETBACK PLANS TO RAISE CAPITAL BY NO MORE THAN 0.6 BILLION
ZLOTYS BY ISSUING UP TO 11.7 BILLION OF SERIES F SHARES AT THE
ISSUE PRICE OF 0.05 ZLOTY EACH
    * PREVIOUSLY GETBACK PROPOSED TO RAISE SHARE CAPITAL BY NO
LESS
THAN 1.40 BILLION ZLOTYS AND NO MORE THAN 2.0 BILLION ZLOTYS
    * IN MAY, THE COMPANY SAID THAT FIRST GROUP OF CREDITORS,
THE
BONDHOLDERS, WOULD BE PAID IN 65.36 PERCENT, REMAINING 34.64
PERCENT OF DEBT WOULD BE CONVERTED INTO NEWLY ISSUED SHARES
 urn:newsml:reuters.com:*:nL8N1SE4JE
    * ALSO IN MAY, COURT IN WROCLAW OPENED ACCELERATED
RESTRUCTURING
PROCEDURE FOR THE COMPANY  urn:newsml:reuters.com:*:nL8N1SH70P

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM8BXYhqa
    
 Further company coverage:  GBK.WA  
   


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