LONDON (Alliance News) - Xcite Energy Ltd on Friday said its bondholders have approved the restructuring plans it outlined on Thursday for its USD135.0 million of outstanding bonds.
On Thursday, Xcite said 100% of the value of the outstanding bonds would be exchanged for 98.5% of the enlarged share capital of the company.
Those proposals were approved unanimously.
Shares in Xcite were up 38% to 1.65 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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