On 13 January, GO plc announced that its Board of Directors resolved to instruct Forgendo Limited, the joint-venture investment vehicle equally owned by GO and its parent company Emirates International Telecommunications Limited (EITL) which owns 41.27% of Forthnet S.A., to vote against the €30 million rights issue of Forthnet during the Extraordinary General Meeting scheduled to be held today. The Greek telecoms company is seeking shareholder approval for a number of changes to its capital structure and the €30 million rights in issue in line with the conditions of its recent restructured debt.
GO’s Directors also decided to continue to monitor the situation in Greece and to re-evaluate its position at a later stage.
Related news items:
Rights issue by Forthnet – 22.09.11 – https://rizzofarrugia.com/news-events/2011/rights-issue-by-forthnet/
Forthnet’s rights issue participation – 15.12.11 – https://rizzofarrugia.com/news-events/2011/forthnets-rights-issue-participation-go19/