Shareholders of Old Noble entitled to receive more than 96% of the shares of Noble

THE board of Noble Group Holdings on Monday evening said that as of the registration deadline of June 19, 2020, shareholders of Old Noble were entitled to receive more than 96 per cent of the shares of Noble under the terms of the court approved restructuring.

But shareholders of Old Noble who have successfully completed all four steps of the allocation process and who have had their allocated shares of Noble deposited in their secure online share accounts make up only over 88 per cent of the shares of Noble. It thus encourages all shareholders to complete the remaining steps of the allocation process “at the earliest opportunity” by the allocation deadline of Dec 19, 2020. After that date, any person who has not done so will no longer be entitled to receive shares of Noble.

The new Noble entity was formed after the embattled Noble Group underwent restructuring. Unlike the previous company, it operates on a much smaller scale as a supply-chain manager of energy products and industrial raw materials. Under the restructuring, all the assets and business of Old Noble were transferred to the new Noble entity; shareholders of Old Noble are entitled to receive one share in the new entity for every 10 shares held in Old Noble. Fractional entitlements will be rounded up to the nearest whole share.

Source: News Formal (newsformal.com)

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