JSE-listed diversified packaging manufacturer Nampak has cancelled its previously adjourned general meeting, which it planned to hold on March 8.
During an extraordinary virtual general meeting of shareholders on January 18, the company motioned to adjourn the general meeting until 09:00 on March 8.
However, Nampak reported on March 6 that lenders providing its revolving credit facility and term loans, and the lenders providing the US private placement funding, have appointed their own debt advisers to facilitate the process of reaching consensus between lenders and the company in determining the participants, appropriate size and terms of the new funding package.
The Nampak group will publish details of the new funding package and the rights offer as soon as practicable, but this is unlikely to occur before the announcement of the group’s interim results.