Asia's Noble Group Gets Debt-Restructuring Approval From Shareholders
Shareholders of Noble Group Ltd. approved its $3.5 billion debt restructuring plan, thereby saving the Asian commodities trader from insolvency.
Agreeing to a debt-for-equity swap, Noble’s shareholders will now be left with 20% ownership in the company. The majority ownership gets transferred to the firm’s creditors. According to Reuters, small shareholders were discontent with the plan as it reduced their ownership, but said they had little choice but to back the restructuring in order to ensure the company’s survival.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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