Waldorf Update
Waldorf UK restructuring plan involves compromise of Capricorn's liabilities for 5% cash and upside-sharing payments.
Select text to share a quote on X · sign in to keep highlights & notes in your CNE notes
Capricorn notes Waldorf UK PLC ("Waldorf")'s announcement today that it intends to use a restructuring plan under the Companies Act.
Under Waldorf's plan, certain amendments will be made to the terms of its bonds; and the compromise of certain liabilities owed to Capricorn in exchange for consideration consisting of: (a) a cash payment of 5% of the outstanding liability; and (b) certain "upside-sharing payments" after Waldorf's secured creditors have been paid.
Capricorn has engaged Norwegian and English counsel and is considering all options available to it.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.