The voting remains open for Sukuk holders to respond to the Consent Solicitation Process. Of the votes cast so far, a significant majority have voted in favour of the deal.
As explained in the consent solicitation memorandum (CSM), this is a voluntarily proposed deal that is designed to provide Sukuk holders with enhanced tradability and security that they do not have today by allowing a dollar for dollar exchange from unsecured Sukuk to secured Sukuk while maintaining the profit rate.
The Company has the liquidity to pay the profit payment due in the second week of June should it be required; and, through the voluntary consent solicitation, the company aim is to provide for a better rationalisation of the capital structure while accommodating the long-term aims and concerns of its stakeholders.
We remind people that the deadline to receive the early documentation review fee of 1% is 4pm BST today.