Effective date for Noble's restructuring pushed to 20 December

It was originally set for 19 December.

The effective date for Noble Group’s restructuring is now slated for 20 December instead of 19 December, an announcement revealed.

According to a filing on the Singapore Exchange (SGX), the firm noted that it will make additional announcements where are further developments in relation to the restructuring, schemes and other matters contemplated.

Also read: Noble pushes for restructuring after authorities block re-listing

Noble Group got the green light from a Bermuda court on 14 December after it approved an officer to continue the embattled firm’s restructuring deal.

It allowed Noble to avoid liquidation after its preferred structuring plan which was dubbed as New Noble was blocked at the last moment by an investigation from the Monetary Authority of Singapore (MAS) and SGX.

According to a joint statement by the agencies, allowing Noble to re-list is “imprudent” given that “significant uncertainties” about the financial position of the New Noble will disable investors from trading New Noble’s shares on an informed basis.