The restructure of our firm
In December 2017, the Company concluded a recapitalisation via a Creditor's Scheme of Arrangement, which provided the Company with a sustainable level of debt and additional liquidity. All UK operations and UK subsidiaries were separated from the Company and transferred to a new UK Holding Company wholly owned directly by the Company's senior lenders. The shareholder class actions were resolved by a shareholder claimant scheme which continues to be administered by the scheme administrators.
This page contains all relevant material announcements and documents provided to the ASX and shareholders in the course of having the recapitalisation approved and implemented.
Our firm is now aiming its attention at organic growth in Australia and improving our overall operations to meet the ever-changing demands of our client base.