Eros STX Global expects to pass fiscal 2021 financial statement delivery date, bond maturity date at Adjourned Meeting (shares remain halted)
12:21 PM ET 9/3/21 | Briefing.com
The Company previously submitted a request to bondholders to, among other things, extend the fiscal 2021 financial statement delivery date from July 31, 2021 to November 30, 2021, as well as to extend the maturity date of the bonds to April 15, 2023, as disclosed in the Company's Form 6-K furnished to the SEC on August 10, 2021.The bondholder meeting (the "Initial Meeting") was held today and was adjourned for lack of quorum until September 20, 2021 (the "Adjourned Meeting"). The Initial Meeting required a quorum of at least 75% of the Bonds outstanding whereas the Adjourned Meeting requires a quorum of at least 25% of the Bonds outstanding. For the proposal to pass, at least 75% of the votes cast must be in favor. Based on the vote results submitted to date, the Company currently expects to satisfy the quorum requirement and pass the proposed amendments at the Adjourned Meeting. The Company expects to announce the final result of the Adjourned Meeting on September 20, 2021.