Marconi completes restructuring

By Carlise Newman

Chicago, May 15 - Marconi plc said Monday the schemes of arrangement for Marconi Corp. and Marconi plc have become effective as of May 19, and trading in the company's shares, notes and warrants has begun on the London Stock Exchange.

Under the Marconi Corp. plan, creditors with an admitted claim of £1 million will be entitled to receive £64,321 in cash; $135,759 of senior notes; $92,169 in junior notes; and 188,359 new Marconi Corp. shares.

Marconi plc scheme creditors with claims of £1 million will receive £9,587 in cash; $23,492 of new senior notes; $15,949 in junior notes; and 32,594 shares of Marconi plc.

Marconi is a London-based telecommunications equipment company.

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