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Noble wins founder Elman's support with proposal tweak

Richard Elman says allocation is "fair to shareholders"; creditor approval now stands at 83%

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Mr Elman: "I am confident in our management team. They have shown great loyalty and resolve in protecting our core businesses."

Singapore

NOBLE Group has won over its founder and largest shareholder Richard Elman to its debt restructuring plan, after tweaking the proposal to provide current shareholders 15 per cent of new equity in the new Noble entity, and giving him a seat on the new board.

The positive

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