St Laurence Ltd wins investor support for recapitalisation

About 96% of debenture stock holders and almost 100% of capital note holders voted in favour of the proposed restructuring, under which managing director Kevin Podmore will put up his own assets, strengthening St Laurence as it seeks to repay investors in full.

The company plans to pay all outstanding interest due up to Dec. 5 then begin quarterly principal payments starting on April 1 next year.

The move "will enable loans to be repaid in an orderly fashion while preserving and maximising the value of SLL's funds management business," Podmore said in a statement.

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

CVT - Update on banking facilities
April 9th Morning Report
April 8th Morning Report
ATM - In principle agreement to settle shareholder class action
SUM - 1Q26 Metrics - Sales of Occupation Rights
GMT corporatised and stapled structure completed
April 7th Morning Report
KMD completes Placement and Institutional Entitlement Offer
SML - North Island asset sale completed
RAD - Radius Care Expansion Continues with Care Home Acquisition