Business
Notice of Scheme Sanction Hearing
Notice of Scheme Sanction Hearing.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \n FOR IMMEDIATE RELEASE\n \n \n \n 4 January\n 2021\n \n \n LSE: PDL\n \n \n \n Petra Diamonds Limited\n (\"Petra\", \"PDL\" or the \"Company\" or, in conjunction with its subsidiaries, the “Group”)\n Proposed Scheme of Arrangement of Petra Diamonds US$ Treasury Plc\n Notice of Scheme Sanction Hearing\n Notice of Scheme Sanction Hearing\n Further to the announcement issued by the Company on 10 December 2020 giving notice of the Scheme Meeting which is scheduled to take place on 8 January 2021, the Company hereby gives notice that, subject to the Scheme being approved by the requisite number of Scheme Creditors at the Scheme Meeting (being a majority in number, representing at least 75 per cent. in value of the Scheme Creditors present and voting) the Scheme Sanction Hearing at which the Court will consider whether to exercise its discretion to sanction the Scheme is anticipated to take place on 12 January 2021, at a virtual hearing held using Skype for Business (or such other remote communication programme as the Court decides).\n Any Scheme Creditor is entitled to attend the Scheme Sanction Hearing to make representations to the Court, or to instruct counsel to attend the Scheme Sanction Hearing and to make representations to the Court on his or her behalf.\n We anticipate that the Court will confirm the timing of the Scheme Sanction Hearing on or around 11 January 2021. Scheme Creditors who wish to attend the Scheme Sanction Hearing, or who wish to instruct counsel to attend the Scheme Sanction Hearing and to make representations to the Court on his or her behalf, should confirm their intention by email to [email protected] specifying their name and email address and, if applicable, the name and email address of their counsel. A videoconferencing link will subsequently be provided to such parties directly by the Court.\n Details of the Scheme Convening Hearing will also be published on the Business and Property Courts Rolls Building Cause List on 11 January 2021, which can be accessed via the following link: https://www.justice.gov.uk/courts/court-lists/list-cause-rolls2#Insolvency.\n Voting Instruction Deadline – Reminder\n In order for the voting instructions of a Noteholder to be taken into account for the purposes of the Scheme Meeting and for the election of a ...