– Information will be assigned market through a stock exchange announcement when we have something to announce, wrote CEO Njål Sævik in an sms to Sunnmørsposten few hours before the deadline expired. With the clock passed midnight had still been no such notification, the newspaper said.
It distressed company must obtain approval from two-thirds of bondholders that the so-called restructuring plan shall be implemented. The negotiations are crucial for the future of offshore company in Herøy, NRK writes.
According pursuits want Sævik family, which owns 51 percent of the company, to delay and reduce the large debt maturities for the company to pay current interest payments, buying back parts of bond- and shareholders increases equity by NOK 300 million. The family wants to keep its share, which means that it must be included with 153 healthy million, according to a stock exchange announcement, while the other owners must in with the rest.
Banks have already accepted their share of the restructuring by reducing payments the next three years with 400 million. Also the largest bondholders have accepted Havila proposal, but it will not be achieved prior acceptance of a sufficient number of bondholders.
– In the worst case this means that the banks take control of what will happen next, or that we must into new negotiations, says CEO Njål Sævik. (© NTB)
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