(Alliance News) - Advertising technology firm Matomy Media Group Ltd on Monday said the trustee of its bondholders have convened a meeting to discuss their full early redemption.
If bondholders agree with a two-thirds majority for full redemption at the December 1 meeting, Tel Aviv-based Matomy said, it will have no choice but to redeem them at their par value by January 15.
The company said any redemption would be conditional on Matomy completing the USD48 million sale of Team Internet AG.
Bondholders in October had narrowly rejected a vote which would have forced Matomy to sell Team Internet, despite a sale meaning Matomy would be able to meet obligations. Matomy has since agreed a sale to London-listed CentralNic Group PLC.
Matomy shares closed 4.2% lower on Monday in London at 2.94 pence each.
By George Collard; georgecollard@alliancenews.com
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