Compulsory Composition With Creditors

Eqva ASA

20/10/2020 06:42

Oct 20 (Reuters) - Havyard Group ASA  HYARD.OL :
    * COMPULSORY COMPOSITION WITH CREDITORS
    * VOTE ON COMPULSORY COMPOSITION HAS NOW BEEN COMPLETED
    * VOTES IN FAVOUR CONSTITUTED 95,87% OF TOTAL ELIGIBLE
CLAIM, AND
100% OF VOTING CREDITORS
    * SOLUTION FOR A COMPULSORY COMPOSITION HAS RECEIVED
SUFFICIENT
SUPPORT AND WILL BE SENT TO DISTRICT COURT FOR CONFIRMATION
    * FINAL CLARIFICATIONS REMAINS REGARDING SIZE OF
DIVIDEND-ELIGIBLE
CLAIM WITH A SMALL NUMBER OF CREDITORS
    * HST DOES NOT ANTICIPATE ANY PROBLEMS WITH SUCH
CONFIRMATION, AND
PAYMENTS WILL TAKE PLACE WHEN APPEAL DEADLINE EXPIRES 4 WEEKS
AFTER CONFIRMATION
    * IT HAS NOT YET BEEN CLARIFIED HOW LARGE A DIVIDEND GROUP
COMPANIES (MAINLY HAVYARD GROUP ASA) WILL RECEIVE
    * COMPLETED COMPOSITION WILL STRENGTHEN EQUITY FOR GROUP
ESTIMATED
AT APPROXIMATELY MNOK 60, DEPENDING ON FINAL ACCOUNTING AND
OUTCOME OF DISPUTED REQUIREMENTS.

Source text for Eikon:  ID:nObisDkPza 
Further company coverage:  HYARD.OL 

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