Noble warns noteholders against winding-up move
It says it'll be 'very difficult' process; more parties dump shares
Singapore
NOBLE Group warned noteholders who do not support its restructuring plans that they are likely to find it "very difficult" to successfully wind up the company.
The commodity trader also said in an exchange filing on Thursday that it will likely be able to continue as a going concern, as there are reasonable grounds to expect its restructuring to be successfully implemented.
It released these comments after calling for a trading halt on its shares on Thursday morning. After trading resumed at 2.30 pm, its shares fell to as low as 9.7 cents, before ending the day at 10 Singapore cents, down 0.4 cent or 3.8 per cent from the previous day.
The comments come after Noble said earlier the same day that it received notice of default from the trustee of its US$379 million 3.625 per cent bonds. The Hong Kong-based company announced last Friday that it will not be paying the principal and interest on these bonds which had been due on March 20, nor the coupon…
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