Appointment of an International Advisory Team
The Group announced that Moelis & Company ("Moelis") and AlixPartners have been appointed as independent financial advisor and operational advisor respectively with immediate effect. Moelis will support and advise on the Group’s discussions with its lenders, while AlixPartners will assist on liquidity management and operational measures.
Immediate Stabilisation
The Group is currently fully focussed on safeguarding operational liquidity to continue funding existing operations throughout its various subsidiaries. In this context, the Group is asking for and requires continued support in relation to existing facilities from all its lenders to achieve an immediate stabilisation of the Group’s financing.
Lender Meeting
The purpose of the meeting will be for the Group to provide an update on its ongoing operational and financial situation. An agenda for the meeting will be circulated ahead of 19 December 2017.
Caution
Shareholders and other investors in the company are advised to exercise caution when dealing in the securities of the group.
