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.