International Breweries Plc will at an Extra-ordinary General Meeting (“EGM”) to take place on April 9, 2024 seek shareholders’ approval to convert an intercompany loan of $379.9 million to equity on April 9.
A debt-to-equity is a refinancing deal in which a debt holder gets an equity position in exchange for the cancellation of the debt.
Other resolutions hoped to be approved at the EGM include Signatory Authorisation that will authorize a Director and Company Secretary to sign and execute all documents necessary to give effect to the above resolutions, including without limitation to, complying with the directives of any regulatory authority.”
