Jervois Global (ASX:JRV) said the Australian Securities Exchange confirmed that the company does not need to get shareholder approval for its proposed recapitalization under the bourse's listing rules, according to a Wednesday filing with the ASX.
The company reached a funding and recapitalization agreement with Millstreet Capital Management, according to an earlier filing. This will provide $145 million of new pre- and post-recapitalization equity capital to fund the business.
The agreement will allow Jervois to be recapitalized via a prepackaged US Chapter 11 procedure and become a private group.
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