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LONDON - SW (Finance) I PLC announced Monday that SWS Holdings Limited will hold a convening hearing regarding its proposed scheme of arrangement on Tuesday at 10:30 a.m. at 7 Rolls Buildings in London.
The hearing aims to secure directions for convening meetings of scheme creditors to consider and potentially approve the arrangement under Part 26 of the Companies Act 2006. Scheme creditors have the right to attend in person or through counsel to make representations at the hearing.
The company previously secured a legally binding equity commitment of £655 million from a consortium led by funds managed by Macquarie Asset Management to support its AMP8 investment program. The consortium has also indicated intent to provide additional equity commitments between £245 million and £545 million by December 2025.
According to the press release statement, approximately 72 percent by value of the scheme creditors have signed or acceded to a lock-up agreement as of Monday. The company entered into this agreement on July 8.
Financing creditors who join the lock-up agreement by the specified date will be entitled to a fee of £1,000 each. Details about the hearing will also be posted on the scheme website.
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