RE: RNS OUT2 Jul 2019 11:14
Anybody know how many shares they will get for this debt:
As a result of the Company's continued financing of HEPI, as of 30 June 2019, HEPI owed the Company approximately US$124 million by way of an intra-group debt ("Intra-Group Debt"). As part of the Transaction, the Company proposes to (i) capitalise substantially all of the Intra-Group Debt as at the date of completion of the Transaction ("Completion") in consideration of the issue by HEPI of further shares in HEPI; and (ii) waive its rights to the repayment of the remainder of Intra-Group Debt such that the remainder of Intra-Group Debt will be written off and HEPI will not have any indebtedness to the Company following Completion ("Capitalisation and Waiver"). This means that the Intra-Group Debt will no longer appear in the Company's financial statements. In the event that Completion does not occur, the Company will not proceed with the Capitalisation and Waiver and the Intra-Group Debt will remain outstanding.