As at the date of this notice, Existing Noteholders owning 77.01% of the Existing Notes have signed or acceded to the RSA. The Restructuring is to be implemented by an English-law scheme of arrangement under the Companies Act 2006 (UK).
In order for the Scheme to be approved, a simple majority in number representing not less than 75% by value of the Scheme Creditors will need to vote in its favour at the Scheme Meeting.
Company confirmed in a regualtory filing that this announcement is for information purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell or a solicitation of consents with respect to the Existing Notes or the Scheme.
In order to be eligible to participate in the Scheme, Noteholders will be required to be persons located outside the United States.
Jain Irrigation Systems was trading at Rs29.05 up by 1.04% on Sensex, at around 9:30 AM.