Goldilocks says working on alternative plan to keep Noble afloat

SINGAPORE (Apr 20): Goldilocks, which owns 8% of Noble Group, says it is working on an alternative plan with other investors to keep the embattled commodities firm afloat.

The Abu Dhabi-based investment fund says a specific proposal is currently being developed that will be shared with all stakeholders.

The plan "can preserve value for shareholders and ensure long term and sustainable survival of Noble, a one-time Asian trading powerhouse" says Goldilocks, without revealing any more details about the plan.

Noble Group sweetens debt restructuring deal, gets founder's backing

SINGAPORE (Apr 16): Noble Group improved the terms of its controversial $3.4 billion debt restructuring deal and won the support of its biggest shareholder as the commodity trader seeks to complete the vital transaction.

Singapore-listed Noble's debt-for-equity swap has already won the backing of more than 83% of the holders of its senior debt but it also needs a majority of its shareholders to approve the restructuring.

Goldilocks says Noble's restructuring plans 'doomed to fail' unless group addresses proposal flaws

SINGAPORE (Apr 6): Goldilocks Investment Company, which owns an 8.1% stake in commodities trader Noble Group, says the latter’s currently proposed debt restructuring plan is “doomed to fail” unless it is redesigned to address a number of “serious flaws”.

In a press statement on Friday, the Abu Dhabi-based fund starts off by applauding Singapore Exchange Regulation’s (SGX RegCo) announcement yesterday stating that how Noble shareholders vote should not affect their share entitlement in the new company under the group’s restructuring plan.

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