Agreement to wave requirement for chief shareholder FEFAM to conduct a full takeover paves way for shareholders to vote through a debt-for-equity swap that will reduce the historic battery maker’s debts by a reported 65% next Tuesday.
Biggest shareholder has acquired – and postponed payment of – a chunk of debt due last month and agreed a further debt-to-equity transfer. The Swiss company today stated further measures will be required to shore up its balance sheet.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.