Jakarta: Berlian Laju Tanker announced that its unsecured creditors will hold 27% of the company’s shares through a pre-emptive rights issue scheme.
The move is part of the restructuring of the company’s debts, which was agreed and ratified by the Central Jakarta District Court in May last year.
The company is planning to increase capital by issuing new shares without pre-emptive rights for a maximum of 4.27bn unit shares or up to 27% of the company’s enlarged capital.
“The support of the unsecured creditors in respect of the restructuring plan is vital to a successful restructuring of the company’s debts and provides the company with the necessary financial liquidity to overcome the downturn of the shipping industry,” the company said in a release. [24/11/14]
Berlian Laju Tanker sells vessels to repay debt