Ster-Kinekor Theatres’ business rescue practitioner Stefan Smyth has announced that the company’s creditors and shareholders have approved and adopted a business rescue plan that will see it get a R250-million senior debt facility from investors, Blantyre Capital and Greenpoint Capital.
“Suspensive conditions of the purchase by Blantyre Capital and Greenpoint Capital include amended commercial lease agreements, to be agreed with landlords and any regulatory or other approvals where applicable,” Smyth explained. “The BRP can then terminate the business rescue proceedings and transfer the shares in SKT to the investors,” he added.
Smyth said he was delighted at the overwhelming support from creditors and shareholders for the plan for Ster-Kinekor.
It’s one of SA’s worst companies. They don’t advertise. Never make use of their database (which is massive). Closed Cinema Nouveau without acknowledging that clientele in any kind of way. It’s such a waste.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTechSA - 🏆 24. / 61 Read more »
SIU wants 506 companies and individuals blacklisted by TreasuryThe individuals or companies are not allowed to do business with the state in any capacity. When is the the SIU gunning for Ramaphosa Son company which benefitted illegally from state coffers? Why the people in government are allowed to do business with government? And when are government officials who are responsible for mismanaged and over priced contracts going to be charged? Officials should be aware of comparative prices and contracts before being allowed to work with tenders and money.
Source: TimesLIVE - 🏆 28. / 59 Read more »