Noble says to take 'alternative' restructuring process without transfer of listing to New Noble

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SINGAPORE (Dec 7): Noble Group said it intends to go ahead and complete the restructuring by “an alternative process” without the transfer of the company’s listing status to New Noble.

The alternative may involve filing for administration in Britain after which creditors of Noble would be able to take control of the company. However, shareholders and perpetual bond holders are likely to be wiped out, analysts have  have noted when the option was proposed in Noble's restructuring circular.

Noble made the response on Friday morning after the announcement that the Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) last night that they will not allow the company’s listing status to be...(click on link for full story on theedgesingapore.com)