28 Apr

Approval of Bond Restructuring Proposals – Afferro Mining

International Mining & Infrastructure Corporation plc (AIM: IMIC), the Company focused on unlocking the value of iron ore in Africa, is pleased to announce that the holders of US$20 million 8.875 per cent. bond due to mature in 2016 issued by Afferro Mining Inc. (“Afferro”) ("Afferro Bondholders") (the “Bond”), IMIC’s 100 per cent. owned Canadian subsidiary, have accepted the proposed modifications to certain terms and conditions constituting the Bond (the “Proposals”), as outlined in the announcement dated 21 April 2015.

The extraordinary resolution in respect of the Proposals required a majority of not less than 75 per cent. of the votes cast to be passed. Accordingly, the Company is pleased that the votes cast in favour of the Proposals exceeded the 75 per cent. threshold required under the Bond instrument and therefore the restructuring has been approved.

Full announcement...