LONDON (ShareCast) - Bondholders of Pearl Group are threatening to veto the flotation of Hugh Osmond's zombie fund manager.
The holders of £500m of Pearl's debt securities are concerned over the lack of information provided
to them about a planned sale of the group.
"The Noteholder Group has inquired of Pearl Group how the Notes are to be treated in connection with the proposed Liberty (LSE: LBE.L - news) transaction, but there has been no response so far," they said in a statement.
"In light of its concerns, the Noteholder Group members consider that they would be unable to support or invest in any re-listing that Pearl Group may launch."
Pearl announced earlier this week that it has been bought by Dutch investment firm Liberty International and that it expectes to list on the London Stock Exchange (LSE: LSE.L - news) before the end of the year.
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
