By Kevin Lim
Nikkei Markets
SINGAPORE (Jan 31) — Singapore-listed Noble Group, responding to criticism of its latest debt restructuring deal, said the allegations that management was enriching itself at the expense of shareholders were unfounded.
“Management are essential to the company’s business because its core businesses are ‘people businesses’,” the company said in a statement to the Singapore Exchange, adding that it agreed during restructuring negotiations that management would get a 10% interest in the company initially.
“Any further grants will be subject to performance hurdles, will not vest if those hurdles are not achieved, and will be funded by loans from creditors that will need to be repaid before vesting…
Read the full article at: https://asia.nikkei.com/Markets/Nikkei-Markets/Noble-Denies-Allegations-Restructuring-Deal-Is-Unfair-To-Shareholders