SIAS to hold informal meeting on Friday for Pacific Radiance noteholders
INVESTOR lobby group Securities Investors Association (Singapore), or SIAS, said it will hold an informal meeting for noteholders to Pacific Radiance's S$100 million 4.3 per cent medium-term notes due later this year.
Pacific Radiance had begun a consent solicitation exercise earlier this month, and held informal clinic sessions.
The SIAS session is to enable noteholders to make "informed decisions with respect to their noteholdings and understand the situation facing the company in the current O&G (oil and gas) crisis", said SIAS president David Gerald in a statement.
The meeting will be held on Friday, Feb 23, at 10am, he said.
"Noteholders are requested to register their interest at SIAS at admin@sias.org.sg with their full name, NRIC or passport number, the aggregate value of the notes held (if through nominees, please identify nominee), and contact particulars, by 4 pm on Feb 22," he said.
At the beginning of the month, Pacific Radiance began a consent solicitation exercise for its notes, offering a debt to equity conversion of 950,000 new ordinary shares for every S$250,000 held. This works out to S$0.263 a share.
Pacific Radiance last traded at S$0.108, down a cent or 8.5 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade