Raven has proposed the redesignation of all convertible preference shares into an equivalent amount of ordinary (25%) and irredeemable preference shares (75%). This will create a fixed capital structure with no convertible instruments – eliminating potential dilution and refinancing risk. The transaction is conditional on issuance of a prospectus and shareholder approval. We will revise our forecasts once shareholder approval is received. COVID-19 is not yet impacting trading performance. Demand ....
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Proposed simplification of capital structure
- Published:
24 Apr 2020 -
Author:
Andrew Watson -
Pages:
3
Raven has proposed the redesignation of all convertible preference shares into an equivalent amount of ordinary (25%) and irredeemable preference shares (75%). This will create a fixed capital structure with no convertible instruments – eliminating potential dilution and refinancing risk. The transaction is conditional on issuance of a prospectus and shareholder approval. We will revise our forecasts once shareholder approval is received. COVID-19 is not yet impacting trading performance. Demand ....