Shareholders of Old Noble take up 96% of shares available to them in Noble

Published Mon, Jun 22, 2020 · 02:27 PM

THE board of Noble Group Holdings on Monday evening said that as of the registration deadline of June 19, 2020, shareholders of Old Noble who were entitled to receive shares in the new Noble Group Holdings have successfully registered for over 96 per cent of the shares available to them under the terms of the court approved restructuring.

Over 88 per cent of these shares have been allocated to shareholders of Old Noble who have successfully completed all four steps of the allocation process.

Noble encouraged all shareholders to complete the remaining steps of the allocation process "at the earliest opportunity", and by the allocation deadline of Dec 19, 2020. After that date, any person who has not done so will no longer be entitled to receive shares of Noble.

The new Noble entity has undergone a significant restructuring and operates on a much smaller scale as a supply-chain manager of energy products and industrial raw materials.

Under the restructuring, assets and business of Old Noble were transferred to Noble and shareholders of Old Noble were entitled to receive one share in the new entity for every 10 shares held in Old Noble. Fractional entitlements were rounded up to the nearest whole share. Shareholders of Old Noble who wished to receive Noble shares were to have registered with the appointed trustee Lucid Issuer Services.

Amendment note: This story has been updated for clarity.