26 Butler Boulevard, Burbridge Business Park Adelaide Airport
South Australia 5950, Australia
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www.boartlongyear.com
24 May 2017
Boart Longyear Recapitalisation: Court of Appeal UpdateBoart Longyear Limited (ASX: BLY) (Boart Longyear or the Company) announced on 16 May 2017 that First Pacific Advisors (First Pacific), a holder of the Company's senior secured bonds, sought leave to appeal the order of the Supreme Court of New South Wales to convene creditors' meetings to consider the two Australian schemes of arrangement forming part of the Company's previously announced recapitalisation (the 10 May Order).
The New South Wales Court of Appeal heard both First Pacific's application for leave to appeal the 10 May Order and the substantive appeal yesterday and has not yet rendered a judgment on either matter.
The Company will provide a further update to ASX when a decision is handed down. The application for leave to appeal and the appeal do not currently affect the creditors' meetings, which are scheduled for 30 May 2017, or the Company's timetable for completing the recapitalisation.
Investor Relations: Media: Nate Stubbs Michael WeirDirector, Investor Relations Citadel-MAGNUS
Australia: +61 8 8375 8300 Australia: +61 8 6160 4903
USA: +1 801 952 8343 Mobile: +61 402 347 032
ir@boartlongyear.com mweir@citadelmagnus.com
Boart Longyear Limited published this content on 24 May 2017 and is solely responsible for the information contained herein.
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