On July 23rd (local time), Sherritt has announced that it has acquired 89% of the Debtholder’s votes in favor of the approval of the PoA.The PoA includes a transaction proposal of an exchange between Sherritt’s financial loan owed to Sumitomo Corporation with Sherritt’s corresponding shares in Ambatovy. The Transaction, described in further detail below, would reduce Sherritt’s total outstanding principal debt obligations by approximately $414 million and reduce annual cash interest payments by approximately $19 million by, among other things: While the aggregate principal amount of New Second Lien Notes outstanding is $150 million or more, the Corporation will be required to redeem New Second Lien Notes at par on a semi-annual basis on April 30 and October 30 of each year, from and after October 30, 2021, in a principal amount equal to 50% View Sumitomo Corporation's News : Sherritt’s Submission of Plan of Arrangement under Canada Business Corporations Act. The Transaction will be implemented through a corporate plan of arrangement (the “ As previously announced, the Plan of Arrangement was approved by holders of the Corporation’s outstanding (i) 8.00% senior unsecured debentures due 2021, … Forward-looking statements are not based on historic facts, but rather on current expectations, assumptions and projections about future events, including matters relating to the proposed Transaction; commodity and product prices and demand; the level of liquidity; production results; realized prices for production; earnings and revenues; and certain objectives, goals and plans. Pursuant to the CBCA Proceedings, Sherritt obtained today an interim order (the “ Environmental Policy and Management Structure, Objectives and ResultsA leading mobile phone retail company offering cutting-edge servicesSustaining Indonesia’s power supply with geothermal power generationParticipation in European offshore wind power projectsProgress of Sherritt’s Plan of Arrangement under Canada Business Corporations Act Pursuant to the Plan of Arrangement, Sherritt will have the right to implement the transactions relating to the CFA Loans described above (the “CFA Loan Transactions”) on a contractual basis with the CFA Lenders outside of the Plan of Arrangement, or to implement such other transactions in respect of the CFA Loans that may be acceptable to Sherritt and the CFA Lenders and that are not materially … The Corporation may, from time to time, make oral forward-looking statements.
Sherritt and its subsidiary, 11722573 Canada Ltd. (together, the 'Applicants') intend to seek approval of the Plan of Arrangement by the Ontario Superior Court of Justice (Commercial List) (the 'Court') at a hearing currently scheduled for 9:00 a.m. (Toronto time) on July 29, 2020.
Q&A and Presentation of ESG Small Meeting for Investors/Analysts (June 26th,2020) On July 23rd (local time), Sherritt has announced that it has acquired 89% of the Debtholder’s votes … Sherritt believes that reducing its outstanding debt obligations and associated cash interest expense is required at this time in order to provide a comprehensive solution 27, 2020 [HQ] Start-up Investment in Israel Any questions or requests for further information regarding voting at the Meetings or eligibility for Noteholder Early Consent Cash Consideration should be directed to Kingsdale Advisors at 1-800-749-9197 or 416-867-2272, or by email at Sherritt is a world leader in the mining and refining of nickel and cobalt from lateritic ores with projects, operations and investments in Canada, Cuba and Madagascar. Sherritt has also engaged in extensive efforts with its Cuban partners over an extended period of time to reduce its outstanding Cuban receivables. Message from General Manager for Europe, Middle East, Africa & CISEnvironmental Policy and Management Structure, Objectives and ResultsA leading mobile phone retail company offering cutting-edge servicesSustaining Indonesia’s power supply with geothermal power generationParticipation in European offshore wind power projectsProgress of Sherritt’s Plan of Arrangement under Canada Business Corporations Act This news release contains certain forward-looking statements.
The securities to be issued pursuant to the Transaction have not been and will not be registered under the U.S. Securities Act of 1933 (the “ This news release is not an offer of securities for sale in the United States. This news release is not an offer of securities for sale in This news release contains certain forward-looking statements.
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