Blackstone Loan Financing Adjusts Timetable for Asset Sale
Blackstone Loan Financing Limited (NYSE: BX) has recently announced a delay in completing a significant asset sale. The buyer of the Private Placement Notes (PPNs) has decided to push back the initial completion date from December 31, 2024, to January 8, 2025.
Revised Schedule and Important Dates
This postponement came to light through an official statement made on Thursday. The company reassured stakeholders that even with the revised completion date, the overall timeline for upcoming events remains intact. Among these is the payment pertaining to the Third Redemption, which is a part of the company's comprehensive ongoing transactions.
Proxy Appointments and Extraordinary General Meeting
The newly revised schedule stipulates that the final time and date for receiving proxy appointments for the Second Extraordinary General Meeting (EGM) is now established at 11:00 a.m. on January 13, 2025. Notably, the record date for participating and voting at this significant meeting is set for 5:00 p.m. on the same day.
Impact on Share Trading
Moreover, the suspension of share listings on the Official List and the cessation of trading on the Main Market is projected for 7:00 a.m. on January 15, 2025. The Second EGM is anticipated to occur at 11:00 a.m. the same day, with results expected to be announced shortly after. The initiation of the Summary Winding-up, contingent on obtaining approval for the Second EGM Resolution, is also slated for January 15.
Future Dates for Shareholders
In addition, the record date for the Third Redemption is scheduled for 5:00 p.m. on January 15, with the anticipated cancellation of shares listed on the Official List and the corresponding admission to the Main Market expected around 8:00 a.m. on January 16, 2025. Shareholders can expect the payment related to the Third Redemption to be processed by February 4, 2025, or soon thereafter.
Potential for Further Delays
It is important to note that all events mentioned are subject to further postponements should any delays occur in completing the proposed transaction or in the acquisition of necessary regulatory approvals. In such cases, shareholders will be promptly informed of any alterations to the timetable via an announcement through an RIS provider.
Conclusion
The details shared in this article stem from a statement released by Blackstone Loan Financing Limited. Shareholders are encouraged to review the meanings assigned to capitalized terms in the associated circular for any undefined terminology.
Frequently Asked Questions
What is the new completion date for Blackstone's asset sale?
The new completion date is January 8, 2025.
When is the next Extraordinary General Meeting scheduled?
The Second Extraordinary General Meeting is scheduled for 11:00 a.m. on January 15, 2025.
What should shareholders pay attention to regarding proxy appointments?
Proxy appointments need to be submitted by 11:00 a.m. on January 13, 2025.
Is there a possibility of further delays in the timetable?
Yes, any delays in transactions or regulatory approvals may lead to changes in the schedule.
When is the payment date for the Third Redemption?
The expected payment date for the Third Redemption is by February 4, 2025, or as soon as possible thereafter.
