Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi yamaha, where was this?
http://www.taloussanomat.fi/porssi/2015/05/28/yle-talvivaaran-omistajat-saattavat-sittenkin-paasta-mukaan-uuteen-yhtioon/20156838/170 Sources say that if the negotiations succeed, the owners and creditors of Talvivaara Mining Company able to enter in the new mining company.
The majority of the creditors' says Talvivaara Mining Company restructuring program, yes, survives left in the District Court today voting statement. The study related to Talvivaara saaneerausohjelmaehdotukseen, according to which the creditors to change the introduction into shares of the company according to certain criteria. Talvivaara announced already vote provisionally at the end of a sufficient number of creditors in favor of a liquidator Pekka Jaatinen restructuring program proposal. Today, a more detailed explanation on by creditors whose claims represent more than 53 percent of Talvivaara's debts, voted in favor of the program proposal. Voting creditors a total of 97.5 per cent in favor of the restructuring proposal. Talvivaara Mining Company shareholders in the news is a relief, because the company's restructuring progress requires the approval of creditors. Now the green light has been officially received. In front of the still big challenges The creditors' support, however, does not alone make sure that the restructuring program is realized. Stock Exchange Release Talvivaara delivered today, the company must meet the "specific conditions" restructuring program included in that mean eriyisesti Talvivaara's viability. Talvivaara Mining Company business currently consists of renting a certain critical equipment and machines and providing administrative and technical services in Talvivaara Sotkamo bankruptcy estate. In general, however, estimated that the current business is sufficient to ensure the viability of the company's restructuring proposal, as required. All eyes are directed now Talvivaara Sotkamo estate. The Ministry of Employment and the Economy announced in March had made a conditional agreement, Talvivaara Sotkamo bankruptcy sale of the mining state Terrafame-specific company and private equity firm Audley led sijoituskonsortiolle. Talvivaara Mining Company has also announced the intention of the new mining partner in the company. If the project is successful, the restructuring program proposal to the requirement of a sufficiently robust business are likely to be fulfilled. The Annual General Meeting will bless plan If Talvivaara's restructuring program is progressing favorably, including the Talvivaara old shareholders hold at some point in approving the proposal for a restructuring program. One potential opportunity could be Talvivaara's Annual General Meeting, which this year is not yet organized. According to preliminary information provided by the company Talvivaara was going to hold its General Meeting of 12 June. However, the meeting has been moved to a later date because it has not been convened yhtiöjärjesteyksen in the time required.
Not at the moment. Next step is the AGM on 21st June I believe
The Administrator of the corporate restructuring proceedings of Talvivaara Mining Company Plc ("Company") has today submitted a voting report to the District Court of Espoo on the outcome of the creditors' voting procedure in connection with the Company's draft restructuring programme. The entry into force of the draft restructuring programme requires that the requisite number of creditors have voted in support of the draft restructuring programme and that the conditions set by the draft restructuring programme concerning the Company's business operations and other conditions set by the law have been met. The Administrator's draft restructuring programme was supported by approximately 97.5 percent of the creditors of unsecured debt participating in the voting, and approximately 98 percent of the votes cast in the same creditors' group. In total, creditors whose receivables represent over 53 percent of all known debts recognized for the purposes of the voting procedure voted in favor of the draft restructuring programme. The requisite support from the creditors set forth in the Restructuring of Enterprises Act for the approval of the draft restructuring programme has thereby been obtained, and the Administrator is not aware of any other barriers to approval. Thus, the draft restructuring programme can in the Administrator's opinion be approved under section 54 of the Restructuring of Enterprises Act. The Administrator notifies the District Court separately once the Company has fulfilled the special conditions set for the entry into force of the draft restructuring programme. Enquiries Pekka Jaatinen, Attorney-at-Law Tel +358 20 7765 765 Castrén & Snellman Attorneys Ltd Talvivaara Mining Company Plc Tel +358 20 7129 800 Pekka Perä, CEO Pekka Erkinheimo, Deputy CEO Talvivaara's corporate restructuring proceeding 25.5.2015 http://hugin.info/136227/R/1923702/689866.pdf - See more at: http://globenewswire.com/news-release/2015/05/25/738762/0/en/Voting-report-relating-to-Talvivaara-s-draft-restructuring-programme-submitted-to-the-District-Court.html#sthash.pv1x5u7g.dpuf
Nope, I haven't found anything either. Next Monday I believe...
All looks good to me. Voting has ended, and the results will be announced in the next few days, not that it matters though.... Now, we wait for the AGM
The creditors' voting procedure on the draft restructuring programme of Talvivaara Mining Company Plc ("Company") in accordance with section 76 of the Restructuring of Enterprises Act has been completed on 6 May 2015. The approval of the draft restructuring programme requires support from the creditors whose receivables amount to at least ca. 105 million euros in aggregate. The Administrator has tentatively informed the Company that the draft restructuring programme has been supported by creditors whose receivables amount to more than 270 million euros in aggregate. The number of creditors voting against the proposal has been limited and the aggregate amount of the receivables of these creditors is ca. 5 million euros. Thus, the requisite amount of votes supporting the draft restructuring programme has been received. The exact number of the supporting votes is to be confirmed during next couple of days, but the view of the Company and the Administrator is that this will not affect the outcome of the voting. The Administrator will prepare a voting report by 25 May 2015 and file it with the District Court. The entry into force of the draft restructuring programme requires in addition that the special conditions set by the draft restructuring programme concerning the Company's business operations and other conditions set by the law have been met.
........approved!
Well, no-one really knows right now. Looks like we'll find out tomorrow. G
Remediation proposal for the mining company Talvivaara looks to be a strong support in a vote of the creditors, the state investigator Pekka Jaatinen. Voting began in mid-April and ends on Wednesday at midnight. Jaatinen says that creditors often fail to vote in similar situations but that they now have been more active than usual. - The preliminary view is that the proposal is about to get creditor support. In particular, the international players have supported the restructuring process, says Jaatinen to FNB. A certain number of creditors must support the proposal on a restructuring program for it to be approved. If it is not supported, you can not confirm and implement the program and it would likely lead to the company going bankrupt. According to Jaatinen, Talvivaara will provide information about voting results on Thursday.
finishes in just over an hour: Based on the decision of the District Court of Espoo, the voting ends on 6 May 2015 at 4.15 pm (Finnish time), except for the voting period for the convertible bond holders and the nominee-registered bond holders that ends already on 4 May 2015 at 4.00 pm (Finnish time).
Haha! In all seriousness, we can only hope. I'll let you know if I find any news
ends today chaps. What do we reckon?
Your guess is as good as mine Wimble. We'll find out in a week or so
http://www.talvivaara.com/files/talvivaara/30.4.2015/Auditor_s%20Report%2030%204%202015.pdf
given permanent positions: http://svenska.yle.fi/artikel/2015/04/21/talvivaara-erbjuder-fast-anstallning