Monday 22nd December 2008 |
Text too small? |
Holders of the company's debenture and notes, along with depositors vote more than 98% in favour of the proposal at a meeting in Wellington today, it said in a statement.
"The moratorium allows Strategic the opportunity to work with borrowers, realising assets on an orderly basis to ensure value is preserved and investor's funds are repaid if and when funds are available," according to a statement from chief executive Kerry Finnigan.
Managers and directors of the company, led by Finnigan, were thwarted in their attempt to acquire the company from Australian parent Allco HIT which has called in receivers and managers for the group. Strategic and its immediate owner Strategic Investment Group were excluded from the move.
No comments yet
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained
Devon Funds Morning Note - 23 April 2024
April 23rd Morning Report
RYM - Group CEO Update
BGI - Director Michael Chai
RAD - Final Dividend and Strong FY24 Operating Performance
RYM - Group CEO Update