Prosafe schemes of arrangement sanctioned by Court; DHC Capital acted as Chairperson of the scheme meetings and appointed as Scheme Manager
The Singapore schemes of arrangement for Prosafe SE (OSX: PRS) and Prosafe Rigs Pte Ltd were sanctioned by Court on 18 October 2021. The scheme meetings were held on 28 September 2021, at which the schemes obtained the approval of 100% in number and 100% in value from scheme creditors present and voting for each class of scheme creditors. The Order of Court was lodged with the Accounting and Corporate Regulatory Authority of Singapore. The scheme is now effective with completion subject to satisfaction of conditions precedents as set out in the scheme.
DHC Capital acted as Chairperson of the scheme meetings and Scheme Manager.
Read on for Prosafe’s announcements on the outcome of voting on the scheme and scheme sanction.
About Prosafe
Prosafe is a leading owner and operator of semi-submersible accommodation vessels and is listed on the Oslo Stock Exchange (OSX: PRS).
Prosafe applied to the High Court of Singapore to reorganise its liabilities and to seek a moratorium against enforcement actions and legal proceedings by creditors pursuant to section 64 of the Insolvency, Restructuring and Dissolution Act.