Approval of Bond Restructuring Proposals
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 its US$30
million 8.75 per cent. bond due to mature in 2016 ("2016
Bondholders") (the “2016 Bond”) have accepted the
proposed modifications to certain terms and conditions constituting
the 2016 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 2016 Bond instrument and therefore the
restructuring has been approved.