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Hurricane Energy set date for shareholder restructuring vote
StockMarketWire.com
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UK-based oil exploration and production company Hurricane Energy PLC have confirmed that a Convening Hearing in relation to the Restructuring Plan was held virtually on 21 May 2021 at the High Court of Justice in London.
The purpose of the Convening Hearing was to seek directions from the Court for the convening and conduct of a virtual meeting of the holders of the company's $230 million convertible bonds.
The Court ordered a virtual meeting of the Company's shareholders which will be held virtually via video conference at 12:00 noon 11 June 2021 or, if later, as soon as possible thereafter as the Bondholder Plan Meeting shall have been concluded or adjourned.
At the Shareholder Plan Meeting the Company will seek approval of the Restructuring Plan from Shareholders. In order to be approved by the Shareholders, the Restructuring Plan will require the support of 75% (by value) of the Shareholders present (virtually) or by proxy and voting at the Shareholder Plan Meeting. Each Shareholder shall have one vote for each share held by such Shareholder.
At 2:58pm: (LON:HUR) Hurricane Energy PLC share price was 0p at 3.25p
Story provided by StockMarketWire.com
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