News dalla ELETSON! Alleluia!
Eletson Holdings, Inc. is soliciting consents from holders of their First Preferred Ship Mortgage Notes due 2022.
Shareholders are advised to review the Consent Solicitation Statement issued by the company for full details of the proposed consent.
As stated in the Solicitation Statement, the purpose of this consent would provide: (a) for the release by the Collateral Agent of the Liens on the Collateral securing the Notes upon the direction of Holders of at least 66-2/3% of the outstanding principal amount of Notes without requiring compliance with the conditions of Section 10.03 of the Indenture;, (b) for purposes of determining whether any notice, direction, action to be taken or consent to be given under the Indenture is authorized, the term Holder shall also include any Beneficial Owner of an interest in a Note; (c) for the removal of the restriction on Eletson MI's ability to dissolve or wind up, the requirement that Eletson MI maintain its existence as a Marshall Islands Limited Liability Company and the requirements for Eletson MI and the Company to each have at least two independent managers or directors, respectively; and9 (D) for the removal of the minimum aggregate liquidity covenant for Eletson MI; and upon the effectiveness of the Proposed Amendments) an instruction to the Trustee and Collateral Agent to release all of the Liens on the Collateral securing the Notes.
Terms of the offer are as follows:
Option 1 - Take no action
Option 2 - Tender notes for consent: Submit consent per Principal Amount tendered and accepted
Please Note: Tendered position will be blocked, and a consenting Holder�s position cannot be sold or transferred until the release date. The Information and Tabulation Agent will instruct DTC to release blocked positions as soon as practicable but no later than three business days after the Expiration Time and not exceeding forty-five calendar days from the date of the Consent Solicitation Statement.
Please Note: Holders of notes will not receive any consent consideration regardless of whether or not they consent.
Minimum Tender Requirement: 1.00 principal amount and in multiples of 1.00 thereafter
The Deadline to tender notes to the offer will be 2019-10-23 @ 13:00 (America/New_York).
In the absence of an election, no action will be taken.