March 26, 2018 / 3:48 PM / a month ago

BRIEF-Avanti Communications Says ‍High Court Of England And Wales Sanctions Scheme Of Arrangement On Financial Restructuring

March 26 (Reuters) - Avanti Communications Group Plc :

* ‍HIGH COURT OF ENGLAND AND WALES SANCTIONED SCHEME OF ARRANGEMENT PROPOSED BY CO ON FINANCIAL RESTRUCTURING

* ‍COMPLETION OF FINANCIAL RESTRUCTURING CONDITIONAL ON APPROVAL OF RESOLUTIONS BY SHAREHOLDERS AT MEETING HELD IN APRIL

* SHAREHOLDERS ‍REQUIRED TO APPROVE ISSUE AND ALLOTMENT OF ORDINARY SHARES TO SATISFY DEBT FOR EQUITY SWAP PROVIDED FOR IN SCHEME​

* SHAREHOLDERS ‍REQUIRED TO APPROVE ORDER OF U.S. BANKRUPTCY COURT RECOGNISING SCHEME AS ‘FOREIGN MAIN PROCEEDING’ Source text for Eikon: Further company coverage:

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