Revised oil forecast and blinkers off
24th April 2012
Norwegian Air’s shareholders has voted to support its restructuring plan during an extraordinary general meeting on December 17. The company gained more than 80% votes in favour of the proposed rights issue, which may raise up to 4 billion crowns from a sale of shares or hybrid instruments, which has a target date of the end of February 2021.
The general meeting also resolved to carry out a reverse split of the company's shares where 100 old shares give one new share.
Norwegian still needs to renegotiate its debt and liabilities of 66.8 billion Norwegian crowns ($7.8 billion) with its creditors.