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SGX RegCo asks Noble creditors to reconsider restructuring proposal

Michelle Zhu Published on Thu, Apr 05, 2018 / 5:34 PM GMT+8

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SINGAPORE (Apr 5): Singapore Exchange Regulation (SGX RegCo) is urging senior creditors of Noble Group to reconsider the proposal to ensure parity in the treatment of all shareholders.

SGX RegCo says how a Noble shareholder votes on the primary restructuring should not have a bearing on whether he would be entitled to receive shares in the new company under the alternative restructuring.

“SGX RegCo is of the view that shareholders should have the freedom of choice in voting on the primary restructuring,” says the regulator in its review of the Restructuring Support Agreement (RSA) entered into between Noble and certain senior creditors.