Glaston has secured a long-term credit facility with the company’s current lenders.
It has secured financing for at least the following 12 months. The credit facility will enter into effect when certain conditions, such as a share issue and the conversion of convertible and debenture bonds into equity, have been fulfilled.
Glaston has received commitments from enough shareholders participating in the Extraordinary Meeting of Shareholders to ensure that the meeting will approve the share issue.
Glaston has received enough commitments to ensure the minimum required number of shares will be subscribed in the share issue.
A majority of convertible bond-holders as well as the debenture bond holders have committed to exchange their bond holdings into Glaston shares.
