Vallourec: creditors approve safeguard plan
(CercleFinance.com) - Vallourec has announced that the financial creditors committee and similar institutions and the bondholders' general meeting have unanimously approved the draft safeguard plan reflecting the agreement in principle announced on 3 February.
"Vallourec welcomes these approvals. The next key milestone is the Shareholders' Meeting which will be held on April 20, 2021 and to which the resolutions required to implement the draft safeguard plan will in particular be submitted," it says.
The approval of these resolutions by the required majorities is necessary for the implementation of the financial restructuring provided for by the draft safeguard plan. Note that given current sanitary conditions this shareholder meeting will be held behind closed doors.
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"Vallourec welcomes these approvals. The next key milestone is the Shareholders' Meeting which will be held on April 20, 2021 and to which the resolutions required to implement the draft safeguard plan will in particular be submitted," it says.
The approval of these resolutions by the required majorities is necessary for the implementation of the financial restructuring provided for by the draft safeguard plan. Note that given current sanitary conditions this shareholder meeting will be held behind closed doors.
Copyright (c) 2021 CercleFinance.com. All rights reserved.