Noble's improved terms for shareholders leave Goldilocks unimpressed

THE sweetened terms in Noble Group's restructuring plan cut no ice with a major shareholder, with Goldilocks Investment Company warning on Thursday that it will escalate the matter.

Noble's shares fell 1.5 cent, or 8.9 per cent, to 15.3 Singapore cents on Thursday, erasing the gains it made on Wednesday.

The Abu Dhabi-based fund, Noble's fifth-largest shareholder, said in a statement on Thursday: "Despite the loud outcry from marginalised stakeholders across many markets, including shareholders and perpetual holders, we are astounded that Noble continues to turn deaf ears to our call to make their restructuring proposal more equitable and fair for the minorities."