MFS's NZ arm wins nod for moratorium
Email Print Normal font Large font AdvertisementMarch 14, 2008 - 2:52PM
MFS Boston, owned by stricken Australian listed company MFS Ltd, said today it received 99% support for a continuation of a repayments moratorium from the 77% of investors who voted.
Late last month MFS Boston revealed liquidity problems and decided to impose the moratorium.
At today's meeting of investors, the directors reiterated their confidence that, based upon the information currently available to them, investors would be repaid their investment together with interest.
The directors said in a statement today ``the vote was a positive and prudent step forward for the company in the circumstances''.
The trustee, Perpetual Trust, said the company's decision to seek a structured moratorium was appropriate given the circumstances and was pleased with the level of support shown by investors for the moratorium.
Investors have approximately $38.5 million invested in MFS Boston.
The moratorium period is to November 2009.
MFS
mfs limited
