Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Shareholders approve Noble debt restructuring

Commodities and shipping conglomerate Noble Group looks set to fight another after shareholders approved a $3.4bn debt restructuring.

Some 99.96% of shareholders voted in favour of the proposed restructuring at special general meeting of Noble held in Singapore on Monday.

The restructuring involves a debt – equity swap that will leave shareholders owning just 20% of Noble.

Read more: Noble reaches restructuring agreement with key creditors

The $3.5bn restructuring aims to bring to an end a three-year long financial crisis at Hong Kong-headquartered Noble, a one-time giant of the commodities business valued at $6bn in early 2015. Noble has been hit hard allegations that it overvalued its businesses, in particular by a former employee under the guise of Iceberg Research.

Founder Richard Elman will not be taking up a previously announced post of executive director in Noble if the restructuring is approved.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.