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  • PHOE Results of The First Members and Creditors Meeting

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    The first meeting of Members and Creditors for Phoenix Consolidated Industries Limited (Under Judicial Management) was held on January 29th, 2014. Four resolutions were passed: to place the company under Final Judicial Management with Reggie Francis Saruchera as manager; give preference to post-judicial management creditors; restructure and re-organize the company through securing investment, settling with creditors, debt-for-equity swaps, and loan facilities; and de-list the company from the Zimbabwe stock exchange.

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    PHOE | Results of the first members and creditors meeting.

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    PHOE Results of the First Members and Creditors Meeting

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    The first meeting of Members and Creditors for Phoenix Consolidated Industries Limited (Under Judicial Management) was held on January 29th, 2014. Four resolutions were passed: to place the company under Final Judicial Management with Reggie Francis Saruchera as manager; give preference to post-judicial management creditors; restructure and re-organize the company through securing investment, settling with creditors, debt-for-equity swaps, and loan facilities; and de-list the company from the Zimbabwe stock exchange.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    30 views1 page

    PHOE Results of The First Members and Creditors Meeting

    Uploaded by

    Business Daily Zimbabwe
    The first meeting of Members and Creditors for Phoenix Consolidated Industries Limited (Under Judicial Management) was held on January 29th, 2014. Four resolutions were passed: to place the company under Final Judicial Management with Reggie Francis Saruchera as manager; give preference to post-judicial management creditors; restructure and re-organize the company through securing investment, settling with creditors, debt-for-equity swaps, and loan facilities; and de-list the company from the Zimbabwe stock exchange.

    Copyright:

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    Phoenix Consolidated Industries Limited

    (Under Judicial Management)


    Results of the first meeting of Members and Creditors Held on the 29th of January 2014
    The results of the first meeting of Members and Creditors for the Phoenix Consolidated Industries Limited ( Under Judicial Management) held on Wednesday the 29th of January 2014 were as follows:

    Resolutions
    Resolution No. 1Place the company under Final Judicial Management and confirm Mr. Reggie Francis Saruchera as the Final Judicial Manager Give preference to post-judicial management creditors Restructure and re-organise the company by 3.1 Securing an appropriate investor; 3.2 Concluding settlement arrangements with creditors; 3.3 Negotiating debt to equity swap arrangements; and 3.4 Arranging appropriate loan facilities and where necessary encumber the assets of the company De-list Phoenix Consolidated Industries Limited from the Zimbabwe stock exchange

    Results
    Passed

    Resolution No. 2Resolution No. 3-

    Passed Passed

    Resolution No. 4 -

    Passed

    Phoenix Consolidated Industries Limited 06 February 2014

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