Slater & Gordon: In talks about stabilisation of capital structure

Company News

by Jessica Amir

Slater and Gordon Limited (ASX:SGH) has announced it’s in confidential discussions with its lenders about the stabilisation of its capital structure.

The multinational law firm has been informed by the New Senior Lenders that they fully intend on implementing a solvent restructure of the company.

The New Senior Lenders will also enter into binding agreements to reset the firm’s debt structure, so it can provide a stable platform for its future operations in Australia and the UK.

The company and the New Senior Lenders believe a restructure by a debt for equity Lender Scheme of Arrangement will be in the best interests of all stakeholders.

Slater and Gordon Limited (ASX:SGH) will provide a further update in the coming weeks.

Shares in Slater and Gordon Limited (ASX:SGH) are currently about 29% higher at $0.12
 

Jessica Amir

Finance News Network
Jessica presents the Market Outlook/Market at Midday and the Market wrap. She also presents ASX company news and interview CEOs. She joined FNN in January 2017. She has been in broadcast journalism for over six years. She has worked as a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She has also worked as a qualified financial planner.