Voting report relating to Talvivaara's draft restructuring programme submitted to the District Court
(Thomson Reuters ONE) -
Stock Exchange Release
Talvivaara Mining Company Plc
25 May 2015
Voting report relating to Talvivaara's draft restructuring programme submitted
to the District Court
Requisite support from the creditors received
The Administrator of the corporate restructuring proceedings of Talvivaara
Mining Company Plc ("Company") has today submitted a voting report to the
District Court of Espoo on the outcome of the creditors' voting procedure in
connection with the Company's draft restructuring programme. The entry into
force of the draft restructuring programme requires that the requisite number of
creditors have voted in support of the draft restructuring programme and that
the conditions set by the draft restructuring programme concerning the Company's
business operations and other conditions set by the law have been met.
The Administrator's draft restructuring programme was supported by approximately
97.5 percent of the creditors of unsecured debt participating in the voting, and
approximately 98 percent of the votes cast in the same creditors' group. In
total, creditors whose receivables represent over 53 percent of all known debts
recognized for the purposes of the voting procedure voted in favor of the draft
restructuring programme. The requisite support from the creditors set forth in
the Restructuring of Enterprises Act for the approval of the draft restructuring
programme has thereby been obtained, and the Administrator is not aware of any
other barriers to approval. Thus, the draft restructuring programme can in the
Administrator's opinion be approved under section 54 of the Restructuring of
Enterprises Act.
The Administrator notifies the District Court separately once the Company has
fulfilled the special conditions set for the entry into force of the draft
restructuring programme.
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 25.5.2015:
http://hugin.info/136227/R/1923702/689866.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via GlobeNewswire
[HUG#1923702]
Unternehmensinformation / Kurzprofil:
Datum: 25.05.2015 - 14:06 Uhr
Sprache: Deutsch
News-ID 395519
Anzahl Zeichen: 3118
contact information:
Town:
Espoo
Kategorie:
Business News
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