Hyflux's perpetual security holders get back only 10% of investment in restructure

SINGAPORE (Feb 17): Hyflux has announced a tentative restructuring plan which has still to be voted on in a scheme of arrangement by perpetual security holders, preference shareholders, and unsecured creditors which comprise medium term noteholders, banks and trade creditors.

Eventually, equity holders will also have to vote in favour in a separate extraordinary general meeting.

Tentative date for the scheme meeting is Apr 5 and all the conditions for Salim Group’s cash infusion must be met by Apr 16.

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