Energis restates assets and calls EGM
The restatement of the value of Ision and its Swiss subsidiary, Energis (Switzerland) AG, both of which it pulled the plug on last week, has brought its net assets down to a level that has triggered a UK law which obliges it to convene an extraordinary general meeting.
London, UK-based Energis, which is in extreme financial difficulties, said that constructive discussions with its banks, an ad hoc committee of bondholders and potential investors are continuing and it would either make a debt-to-equity swap or look to be acquired.
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