New Delhi: Debt-ridden private airline Jet Airways said on Monday that the airline has sought consent from its shareholders to convert existing debt into shares, securities or other convertible instruments.
For the purpose, the airline has also called a shareholders’ meeting on February 21. It would also ask them to allow their lenders to appoint a nominee director to the board, the company said.
During the meeting, the airline sought shareholders’ approval to issue additional shares of face value of Rs 2,000 crore and to borrow loans up to the limit of Rs 25,000 crore.
The company said preferred shares would be issued to the companies who are investing in the airline or the investing companies’ lender banks.
28/01/19 UNI
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For the purpose, the airline has also called a shareholders’ meeting on February 21. It would also ask them to allow their lenders to appoint a nominee director to the board, the company said.
During the meeting, the airline sought shareholders’ approval to issue additional shares of face value of Rs 2,000 crore and to borrow loans up to the limit of Rs 25,000 crore.
The company said preferred shares would be issued to the companies who are investing in the airline or the investing companies’ lender banks.
28/01/19 UNI
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