{"id":83581,"title":"Hurricane Energy PLC (HUR.L) Results of Bondholder Plan Meeting","publisher":"Share Talk","author":"sharetalk","published":"2021-06-11T11:59:12+00:00","modified":"2021-06-11T11:59:12+00:00","canonical_url":"https://www.share-talk.com/hurricane-energy-plc-hur-l-results-of-bondholder-plan-meeting/","markdown_url":"https://www.share-talk.com/hurricane-energy-plc-hur-l-results-of-bondholder-plan-meeting.md","json_url":"https://www.share-talk.com/hurricane-energy-plc-hur-l-results-of-bondholder-plan-meeting.json","category":"Energy","categories":["Energy"],"tags":["Antony Maris","charter","Continental Shelf","EGM","Extraordinary General Meeting","FPSO","gas","HUR","Lancaster field","North Sea","oil","production","Shetland","Steven McTiernan","Storage","UK","vessel"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"Pursuant to an order made by the High Court of Justice of England and Wales (the Court) dated 21 May 2021 (the Order), and further to the announcement made on 24 May 2021 giving notice of the meeting of bondholders of the Company (the Bondholders) at 11:00 a.m. today (the Bondholder Meeting).\n\nFor the purpose of considering and, if thought fit, approving (with or without modification) the restructuring plan proposed by the Company under Part 26A of the Companies Act 2006 (the Restructuring Plan) as set out in Appendix F of the explanatory statement dated 24 May 2021 in relation to the Restructuring Plan (the Explanatory Statement), the Company announces the results of the Bondholder Meeting.\n\n**Bondholder Meeting**\n\nThe Bondholder Meeting was convened at 11:00 a.m. today virtually via video conference in accordance with the Order.\n\nThe resolution to approve the Restructuring Plan as set out in Appendix F of the Explanatory Statement was put to the Bondholders and was duly passed on a poll.\n\nBondholders present and voting represented 84.89% of the total amount outstanding (Plan Claims of USD 197,070,375 present and voting out of USD 232,156,250 Plan Claims outstanding in total).\n\nThe number of votes lodged for and against the resolution proposed is set out below. No votes were withheld.\n\n![](https://www.share-talk.com/wp-content/uploads/2021/06/Investegate-_Hurricane-Energy-PLC-Announcements-_-Hurricane-Energy-PLC_-Res..-2021-06-11-at-12.56.50-PM-300x73.jpeg)\n\n**Further information**\n\nAs set out in the Order, the sanction hearing of the Court to sanction the Restructuring Plan is due to commence on 21 June 2021, at a time to be confirmed.\n\nIf the Restructuring Plan is not sanctioned by the Court, the Restructuring will not be capable of being implemented. In that scenario, it is likely that there would be a controlled wind-down of the Group’s operations followed by an insolvent liquidation of the Company."}