The creditors' voting procedure for Talvivaara's draft restructuring programme completed
(Thomson Reuters ONE) -
Stock Exchange Release
Talvivaara Mining Company Plc
7 May 2015
The creditors' voting procedure for Talvivaara's draft restructuring programme
completed
The Administrator's proposal strongly supported by the creditors
The creditors' voting procedure on the draft restructuring programme of
Talvivaara Mining Company Plc ("Company") in accordance with section 76 of the
Restructuring of Enterprises Act has been completed on 6 May 2015. The approval
of the draft restructuring programme requires support from the creditors whose
receivables amount to at least ca. 105 million euros in aggregate. The
Administrator has tentatively informed the Company that the draft restructuring
programme has been supported by creditors whose receivables amount to more than
270 million euros in aggregate. The number of creditors voting against the
proposal has been limited and the aggregate amount of the receivables of these
creditors is ca. 5 million euros. Thus, the requisite amount of votes supporting
the draft restructuring programme has been received. The exact number of the
supporting votes is to be confirmed during next couple of days, but the view of
the Company and the Administrator is that this will not affect the outcome of
the voting. The Administrator will prepare a voting report by 25 May 2015 and
file it with the District Court.
The entry into force of the draft restructuring programme requires in addition
that the special conditions set by the draft restructuring programme concerning
the Company's business operations and other conditions set by the law have been
met.
Enquiries
Pekka Jaatinen, Attorney-at-Law Tel +358 20 7765 765
Castrén & Snellman Attorneys Ltd
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO
Talvivaara's corporate restructuring proceeding 7.5.2015:
http://hugin.info/136227/R/1919658/687417.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via GlobeNewswire
[HUG#1919658]
Unternehmensinformation / Kurzprofil:
Datum: 07.05.2015 - 08:47 Uhr
Sprache: Deutsch
News-ID 391657
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"The creditors' voting procedure for Talvivaara's draft restructuring programme completed"
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