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Article: INM expects to finalise debt deal
- Article from:
- Belfast Telegraph
- Article date:
- November 4, 2009
CopyrightCopyright 2009 Belfast Telegraph. Provided by ProQuest LLC. (Hide copyright information)
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INDEPENDENT News & Media (INM) expects a restructuring deal to be
finalised before the latest extension to its overdue debt payments
expires on December 23, chief executive Gavin O'Reilly said
yesterday.
Mr O'Reilly was speaking at an Extraordinary General Meeting of
shareholders in which the group defeated the resolutions proposed by
its second biggest investor, Denis O'Brien.
The two resolutions called firstly to remove Brian Hillery as
chairman and secondly to appoint a new senior independent director
to replace Baroness Jay. Both motions were defeated by a majority of
65%. Excluding the shareholdings of the two principal shareholders
over 98% of other shareholders voted in support of ...