03/05/2010
ANNOUNCEMENT
As an update to its announcement of 1st
of April, AG Petzetakis informs that negotiations for
an agreement between the
company, its bondholders and the investor are in progress, and that
the
agreement shall include:
- Restructuring of its debt: it
mainly involves the purchase of outstanding bonds by the investor and
rescheduling them on a long-term frame.
- Increase of Equity: within May, the
Board of directors of the company will convene in order to set a date for a
General Assembly of shareholders to decide the Increase of the Capital of
the company. The strengthening of the Owners Equity will be such in order to
sustain, on a long-term framework, a full deployment of the company’s global
production and commercial capacity.
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