Atlas IronLtd. said April 4 that its shareholders will meet on April 27 tovote on the financial restructuring of the company.
In December 2015, the company with lenders that it will payUS$10 million of its Term Loan B, and issue shares and options to lenders inexchange for retiring US$132 million of the debt. Lenders will hold 70% of theissued shares and options of the company after the restructuring concludes,subject to shareholder approval.
Directors of the company have advised shareholders to votein favor of the restructuring.
The hearing of application to the Federal Court of Australiafor approving the restructuring is scheduled for April 28.